PPSC Economics Ch 1 Basic Economics

PPSC Economics Chapter 1 Basic Economics

Sr. #	Questions	Answers Choice
1	In economics, the term 'scarcity' refers to the fact that	Everything worthwhile costs money No society is able to produce enough to fully satisfy the desires of people for goods. Even in wealthy societies, like the united states, some people are poor sometimes shortages of product result if its price is set too low. In any urban are there are people who have had healed wounds
2	Economics is the study of.	All business, including how they operate why the exist and how they afect Decisions that people must make because goods and services are limited. How to save money, spend money invest savings, and balance a checkbook The stock market the bond market and investment strategies Big business and its impact on our live