no society can produce everything it wants due to which of the following reasons?\ninefficient…

no society can produce everything it wants due to which of the following reasons?\ninefficient production\nscarcity\ncost\nquestion 15\n2 pts\nthe term risk premium refers to a payment to make up for the risk of not being repaid in full.\na. true\nb. false\ntrue\nfalse

no society can produce everything it wants due to which of the following reasons?\ninefficient production\nscarcity\ncost\nquestion 15\n2 pts\nthe term risk premium refers to a payment to make up for the risk of not being repaid in full.\na. true\nb. false\ntrue\nfalse

Answer

Brief Explanations:

  1. Scarcity is the fundamental economic problem. Resources are limited, so no society can produce everything it wants. Inefficient production and cost are related factors but scarcity is the over - arching reason.
  2. The risk premium is indeed a payment to compensate for the risk of non - full repayment. It is an extra amount of money that investors demand for taking on additional risk.

Answer:

  1. scarcity
  2. A. True