ECONOMICS 501 (ECON501)
Texas A&M University - Corpus Christi
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ECON 501 Final Exam Tips (Questions & Answers)
- Exam (elaborations) • 107 pages • 2021
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ECON 501 Final Exam Tips (Questions & Answers)
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Econ 501- Exam Guide
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Econ 501-First Exam-F18
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ECONOMICS 501 Final Questions Study Guide.
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Chapter 2 Question 1: What do economists mean by scarcity? 
a. Economists mean that unlimited wants exceed limited resources. 
b. Economists mean that trade is not possible. 
c. Economists mean that people are not employed. 
d. Economists mean that production is inefficient. 
e. Economists mean that economy is unable to produce increasing quantities of goods and 
services 
What of the following is not scarce according to the economic definition? 
a. Coal 
b. Time 
c. Food 
d. Capital 
e. None of...
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