Question and answer
Which of the following is an example of scarcity, rather than shortage? a. A popular toy is sold out during the busy holiday season. b. You have spent your last penny and payday is a week away. c. A
person wants an endless supply of everything but cannot have it. d. Dairy items were rationed in America during World War II.
c. A person wants an endless supply of everything but cannot have it is an example of scarcity, rather than shortage is an example of scarcity, rather than shortage [smile]
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Original conversation
User: Which of the following is an example of scarcity, rather than shortage? a. A popular toy is sold out during the busy holiday season. b. You have spent your last penny and payday is a week away. c. A person wants an endless supply of everything but cannot have it. d. Dairy items were rationed in America during World War II.

Weegy: c. A person wants an endless supply of everything but cannot have it is an example of scarcity, rather than shortage is an example of scarcity, rather than shortage [smile]
Mayang30|Points 792|

User: One example of thinking at the margin is a. determining whether it is better to spend your savings on a new CD player or on a television. b. deciding whether the benefit of working two extra hours per day is worth the sacrifice of study time. c. putting all of your money in a savings account because the interest rates are so high. d. deciding to buy a car you don’t really like because it is significantly less expensive than the one you want.

Weegy: One example of thinking of the margin is B. deciding whether the benefit of working two extra hours per day is worth the sacrifice of study time.
kuracha|Points 22|

User: The opportunity cost of a decision can be examined by using a a. production possibilities graph. c. global trade-off grid. b. factors of production chart. d. graph of increasing costs.

Weegy: a. production possibilities graph
selymi|Points 10596|

User: A legislative committee is weighing the pros and cons of a clean-air program. If it spends $1 million on the program, the air will be cleaner by 20 percent. If it spends $2 million, the air will be cleaner by 30 percent. If it spends $3 million, the air will be cleaner by 35 percent. After comparing opportunity costs and benefits at the margin, the committee agrees to fund the program with $2 million. Why did it not choose to appropriate $3 million? a. At $3 million, the air is not improved as much as the committee would like. b. At $3 million, the costs are no longer worth the benefits. c. It was too much to spend without a guarantee. d. The air is improved by the same amount whether $2 million or $3 million is spent.

Weegy: The air is improved by the same amount whether $2 million or $3 million is spent.
Whyku|Points 10|

User: If the supply of a good is inelastic, a. producers will not change their quantity supplied by much if the market price doubles. b. a small increase in price will lead producers to sharply increase their quantity supplied. c. producers have diminishing marginal returns of labor. d. producers will increase their quantity supplied in response to sharp drops in the market price.

Weegy: If the supply of a good is inelastic a. producers will not change their quantity supplied by much if the market price doubles.
AlbertJA|Points 53|

User: Which of the following is an example of government influence on supply? a. law of supply c. marginal costs b. subsidies d. market supply curve





Weegy: b. subsidies The government basically funds,in all or in part, an industry's production.
Expert answered|angelrampel|Points 61|



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Asked 6/5/2013 11:36:10 PM
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