Which policy is a country using when it regulates
its colonies’ imports and exports to produce a
favorable balance of trade?
(1) embargo (3) mercantilism
(2) outsourcing (4) transmigration

Which of the following explains why scarcity is a basic fact of life a. demand will always be greater than supply b. technology has not advanced far enough yet c. there will always be too many people on earth d. people cannot make good allocation decisions