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ECON CP - Unit 1 Exam Questions with Correct Detailed Solutions (A+ GRADED 100% Zero-Risk Prep Guarantee!!)
ECON CP - Unit 1 Exam Questions 
with Correct Detailed Solutions (A+ 
GRADED 100% Zero-Risk Prep 
Guarantee!!) 
1. economics - ANSWER social science dealing with how people satisfy 
seemingly unlimited and competing needs and wants with the careful 
use of scarce resources 
2. scarcity - ANSWER fundamental economic problem of meeting 
people's virtually unlimited needs and wants with scarce resources 
3. utility - ANSWER ability or capacity of a good or service to be useful 
and give satis...