The society must also make choices under conditions of scarcity.This problem arises from the fact that:
A)society's wants are limited but the resources are not.
B)resources are scarce relative to society's wants.
C)societies behave only in their self-interest.
D)society's wants and resources are both unlimited.

Question

Quizplus · Accepted Answer

Scarcity means that the resources available are limited relative to the unlimited wants and needs of society. Therefore, society must make choices and prioritize how to allocate these scarce resources to meet their most important needs and wants.

The Society Must Also Make Choices Under Conditions of Scarcity