The fact that even a rich country like Canada faces the economic problem of scarcity implies that:
A) scarcity must be a problem related to the land and labor stocks in Canada.
B) scarcity must be the result of mismanagement of natural resources by Canadian businesses.
C) scarcity must be largely due to the inefficiency of the government in Canada.
D) wants and human desires in Canada exceed available resources.

Question

Quizplus · Accepted Answer

Scarcity is a fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It means that there are not enough resources to fulfill all human wants and needs, regardless of a country's wealth. This is why even a rich country like Canada faces scarcity; it's not about mismanagement or inefficiency, but about the imbalance between desires and available resources.

The Fact That Even a Rich Country Like Canada Faces