ECON 202

Green River Community College

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Exam (elaborations)

ECON 202 Chapter 2 Exam Practice Questions &Answers;—The Economic Approach
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273

March 2021

2020/2021

A+
1. What do economists mean when they state that a good is scarce? a. There is a shortage or insufficient supply of the good at the existing price. b. It is impossible to expand the availability of the good beyond the current amount. c. People will want to buy more of the good regardless of the price of the good. d. The amount of the good that people would like exceeds the supply freely available from nature. ANS: D PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs...
academia1434
$13.99 More Info

Exam (elaborations)

ECON 202 Chapter 2 Exam Practice Questions &Answers;—The Economic Approach
-

-

-

273

March 2021

2020/2021

A+
1. What do economists mean when they state that a good is scarce? a. There is a shortage or insufficient supply of the good at the existing price. b. It is impossible to expand the availability of the good beyond the current amount. c. People will want to buy more of the good regardless of the price of the good. d. The amount of the good that people would like exceeds the supply freely available from nature. ANS: D PTS: 1 DIF: Moderate NAT: BUSPROG: Analytic STA: DISC: Scarcity, tradeoffs...
academia1434
$13.99 More Info