AP Macroeconomics 1.1 Scarcity Questions
Define scarcity as unlimited wants competing for limited productive resources, then connect that constraint to social choice and allocation systems.
- Syllabus
- Effective Fall 2022
- Course
- AP Macroeconomics
Exam points
- identify scarcity as unlimited wants competing for limited productive resources
- explain why scarcity forces choices and distinguish centralized command-economy allocation
Covered syllabus points
Question 1
[Maximum number: 1]
Economics is the study of
A
business.
B
government regulation.
C
central planning.
D
how societies manage their scarce resources.
E
society, politics, and government combined.
C
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