Scarcity/C-BA
Practice the major concepts from the lesson.
Is nuclear waste a resource?
No, its is not desirable.
What two goods are free?
Air and sunshine.
If the marginal benefits are greater than the marginal costs will you do that activity?
Yes.
If the marginal costs are greater than the marginal benefits will you do that activity?
No.
Is sunshine scarce?
No, it is not limited.
Is a taxi a good or service?
Both. A taxi is a good to the taxi company but it provides a service to customers.
Economics is the study of money. True or False?
False. Economics is the study of scarcity and choice.