Scarcity is likely to be
A)a problem that will be solved by the proper use of available resources.
B)unique to the twentieth century.
C)a problem that will always exist.
D)a result of the work ethic.
E)eliminated with a better understanding of economics.

Question

Quizplus · Accepted Answer

Scarcity is a fundamental economic concept that arises from the fact that human wants and needs are unlimited, while resources to satisfy those wants and needs are limited. This means that scarcity will always exist, regardless of any advancements in technology or improvements in the economy.

Scarcity Is Likely to Be