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

Business Dec 27, 2020

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.

Expert Solution

Answer: A

People only have to make decisions because resources are scarce. If they weren't then everyone could get as much of anything they want and there would be no need to argue. Even when the economy is doing "well", resources are still scarce and thus the same decisions still need to be made.

Archived Solution

Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In

Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution

Get Custom Quote