Scarcity means that
A) what we can produce with our resources is greater than our material wants.
B) resources are unlimited.
C) wants are greater than what we can produce with out resources.
D) governments must make up for shortages in resources.
E) choices made in self-interest cannot be the same as those made in the social interest.

Question

Quizplus · Accepted Answer

Scarcity means that there are limited resources to fulfill unlimited wants. Therefore, our wants are greater than what we can produce with our resources. Choice C correctly represents this definition.

Scarcity Means That