ECON 1311 Homework Assignment #1
1) What do economists mean when they discuss "scarcity"?
Our inability to get everything we want.
2) Define economics and describe its branches of study.
Economics is the social science that studies the choices that indivi
Economics: The Core Issues
Multiple Choice Questions
1. Which of the following is not one of the three core economic issues that must be resolved?
How to produce the goods and services we select.
What to produce with unlimited resources.