Changes

'''''Answer''''':  The most basic rule for multiple choice tests is this:  be sure to understand the question.  See that "EXCEPT"?  Typically several miss that, and pick the wrong answer.  Be sure never to miss a question because you did not understand the question.

'''''Answer''''':  The most basic rule for multiple choice tests is this:  be sure to understand the question.  See that "EXCEPT"?  Typically several miss that, and pick the wrong answer.  Be sure never to miss a question because you did not understand the question.

Next, our test-taking tips encourage us to eliminate wrong answers before trying to select the correct answer.  Gold is not scarce under any meaning of the word.  Knock it out as an answer.

Next, our test-taking tips encourage us to eliminate wrong answers before trying to select the correct answer.  Gold is scarce under any meaning of the word.  Knock it out as an answer.

Pennies, paper clips and pencils are all inexpensive, but they do cost something.  A penny is not worth much, but it is worth something.  If you had a hundred of them, you could buy a chocolate bar.  But it doesn't matter how much salt water you might have at the ocean.  That's worthless because there is a free oversupply.  Nobody would pay anything for it, not even a penny.  Thus it is not economically scarce.  The correct answer is (d).

Pennies, paper clips and pencils are all inexpensive, but they do cost something.  A penny is not worth much, but it is worth something.  If you had a hundred of them, you could buy a chocolate bar.  But it doesn't matter how much salt water you might have at the ocean.  That's worthless because there is a free oversupply.  Nobody would pay anything for it, not even a penny.  Thus it is not economically scarce.  The correct answer is (d).