Scarcity in economics arises because
the resources available are adequate
individuals have limited time
resources are limited in supply
human beings have limited wants
individual wants are equal to the resources available
Correct answer is C
No explanation has been provided for this answer.
Economics is the study of how to
Choose between alternatives, given limited resources
Regulate the money that is in circulation in a country
Be prudent in the use of available resources
Improve the standard of living of the society at large
Arrange our needs in order of usefulness before satisfying them
Correct answer is A
No explanation has been provided for this answer.
Land is often different from other factors of production because it
Is a free gift of nature
Constitutes one-third of the entire world
Has different grades
Is owned by individuals
Is owned by government
Correct answer is A
No explanation has been provided for this answer.
Budget deficit
Balanced budget
Budget surplus
Budget statement
Unfavourable budget
Correct answer is A
No explanation has been provided for this answer.
What is the importance of the part labelled II to the seedling? It
protects the foliage leaves
grows into the first foliage leaves
later develops into the fruit
provides the seedling with food
serves as the water reservoir for the seedling
Correct answer is D
No explanation has been provided for this answer.
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