“People want more things than they have money to buy” “The hoods and services a society can produce at any one time are limited”
What problem results from these two conditions?
A. Scarcity
B. Imbalance of power
C. Excessive wealth
D. Opportunity cost

Give an example of a situation in which an individual's pursuit of economic self-interest may not benefit but instead harm the rest of society

In the kingdom of saudi arabia the government controls every aspect of oil production which makes up the majority of the country's economy. while other businesses are owned by individuals, the biggest segment of saudi arabia's economy is oil production. saudi arabia's economy would best be described as a) entirely market. b) almost entirely command. c) a mixture between just market and traditional. d) a mixed economy with large amounts of command.

What does it signify if point 1 shifts down and to the right? a. the price level and the real gdp are falling. b. the real gdp is falling, and supply is increasing. c. the price level is rising, and production is increasing. d. the price level is falling, and demand and the real gdp are rising.