Scarcity requires that we
A) have unlimited resources.
B) make choices about what goods and services to produce.
C) learn to limit our wants.
D) have the most rapid economic growth possible.
E) produce efficiently.

Question

Quizplus · Accepted Answer

Scarcity means that we have limited resources but unlimited wants. Therefore, we must make choices about what goods and services to produce. This is the fundamental economic problem that every society must face.

Scarcity Requires That We