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In considering how to allocate its scarce resources among its various members,a household considers


A) each member's abilities.
B) each member's efforts.
C) each member's desires.
D) All of the above are correct.

Correct Answer

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The overriding reason why households and societies face many decisions is that


A) resources are scarce.
B) goods and services are not scarce.
C) incomes fluctuate with business cycles.
D) people,by nature,tend to disagree.

Correct Answer

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Resources are


A) scarce for households but plentiful for economies.
B) plentiful for households but scarce for economies.
C) scarce for households and scarce for economies.
D) plentiful for households and plentiful for economies.

Correct Answer

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Which of the following is a decision that economists study?


A) how much people work
B) what people buy
C) how much money people save
D) All of the above are correct.

Correct Answer

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