Scarcity results from the fact that
A) not all goals are desirable.
B) we cannot answer the major economic questions.
C) choices made in self-interest are not always in the social interest.
D) the population keeps growing.
E) people's wants exceed the resources available to satisfy them

Question

Quizplus · Accepted Answer

Scarcity results from the fact that people's wants exceed the resources available to satisfy them. There are limited resources available to produce goods and services, but people have unlimited wants and needs. This creates a situation where people have to make choices about how to allocate scarce resources, resulting in scarcity.

Scarcity Results from the Fact That