Problems and Applications: Sample Quizzes Quick Quiz
Problems and Applications: Sample Quizzes Quick Quiz
Quick Quiz Describe an important trade-off you recently faced. • Give an example
of some action that has both a monetary and nonmonetary opportunity cost. • Describe an
incentive your parents offered to you in an effort to influence your behavior.
1. Scarcity exists
a. when people consume beyond their needs.
b. only in rich nations.
c. in all countries of the world.
d. only in poor nations.
set 1
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set 2
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set 4
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