Scarcity:
A) is a problem only in industrialized economies.
B) is a condition measured by the quantity of goods available.
C) exists everywhere because human wants can never be satisfied.
D) is a problem only in poor economies.

Question

Quizplus · Accepted Answer

Scarcity exists everywhere because human wants are unlimited and resources (goods) are limited. This means that people will always have to make choices about how to allocate their resources. It is not limited to industrialized or poor economies, nor is it solely measured by the quantity of goods available.