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What is the difference between a shortage and a scarcity? A. A shortage can be temporary or long-term, but scarcity always exists. B. A shortage results from rising prices; scarcity results from falling prices. C. A shortage is a lack of all goods and services; scarcity concerns a single item. D. There is no real difference between a shortage and a scarcity.
Weegy: A. A shortage can be temporary or long-term, but scarcity always exists. User: The law of increasing costs means that as production shifts from one item to another, A. the cost of production gets cheaper and cheaper. B. the cost of producing an item stays the same no matter how many are produced. C. more and more resources are necessary to increase production of the second item. D. the land costs of increasing production rise much more steeply than do the labor costs. Weegy: D. (More)
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Asked 6/25/2012 5:10:59 PM
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If you choose between two summer jobs, what is the one you do not choose called? A. trade-off B. opportunity cost C. decision at the margin D. opportunity at the margin
Weegy: If you choose between two summer jobs, what is the one you do not choose called A. trade-off . (More)
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Asked 6/25/2012 5:41:28 PM
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Which of the following might a government provide as part of a safety net for the people? A. general elections every four years B. unemployment compensation D. regulation of commerce
Weegy: B. unemployment compensation a government might provide as part of a safety net for the people. (More)
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Asked 6/26/2012 4:21:11 PM
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Which of the following is a summary of the three key economic questions? B. How, when, and from whom should consumers get what they want? C. When, where, and by whom should goods and services be produced? D. What goods and services should be produced, how, and for whom?
Weegy: D. What goods and services should be produced, how, and for whom? is a summary of the three key economic questions. (More)
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Asked 6/26/2012 4:16:12 PM
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