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AP Macroeconomics Mod 1 A Define Scarcity and Economic Resources 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

AP Macroeconomics Mod 1 A Define Scarcity and Economic Resources Questions 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.

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