Question

-Oil is considered to be a non-renewable energy source. Oil is:
a. An unlimited resource.
b. A scarce resource.
c. Not a productive resource.
d. A resource with no opportunity cost.


- Economists are particularly good at understanding that people respond to
a.Laws.
b.Incentives.
c.Punishments more than rewards.
d.Rewards more than punishments.

Answer 1

b) A scarce resource.

b) Incentives