The scarcity problem indicates that

Question

Quizplus · Accepted Answer

The scarcity problem refers to the fact that resources are limited, which creates the need for trade-offs. This means that having more of one thing (such as time, money, or goods) necessarily means having less of something else. Therefore, choice C is the best answer. Choice A is incorrect because the scarcity problem is not just about personal satisfaction or desires, but rather about the fundamental limitation of resources. Choice B is incorrect because it refers specifically to time, which is only one type of resource. Choice D is partially correct but does not fully capture the idea that scarcity leads to trade-offs. Finally, choice E is incorrect because even wealthy individuals must still make choices and trade-offs based on limited resources.

The Scarcity Problem Indicates That