Crude oil, which is found only in certain regions of the world, is used for using the gasoline Americans use every day. Oil can also be refined into diesel and jet fuel. Additionally, it is used to make plastic and man-made fibers
such as nylon. Which of the following characteristics of scarcity does oil exemplify?
i. limited in quantity
ii. desirable
1. has more than one use

Which of the following statements about the economic consequences of the civil war is not accurate. a. inflation caused prices to rise by 80% in the north. b. because southern farms cannot process enough food for everyone in the south the union navy allowed food shipments from britain. c. to pay for all of the food supplies and arrangements that were necessary for the union army congress instituted an income tax. d. business boomed in the north as factories and farms always had a market for their products.