What are resources?
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What is true about economic resources?
A) Economic resources include only money.
B) Economic resources are limited.
C) Economic resources exist only at the individual level.
D) Economic resources are always controlled by the government.
Which of the following is the assumption of the production possibilities curve?
A. Resources are fully utilized
B. Resources are underutilized
C. Resources are expanding continuously
D. Resources are non-renewable
What are economic resources and how does the scarcity of resources apply to economic decisions?