To economists, scarcity means that
A)a person looking for work is not able to find work.
B)there can never be answers to the what, how or for whom questions.
C)limited wants cannot be satisfied by the unlimited resources.
D)the number of people without jobs rises when economic times are bad.
E)unlimited wants cannot be satisfied by the limited resources.

Question

Quizplus · Accepted Answer

Scarcity in economics refers to the fundamental problem of having seemingly unlimited human wants in a world of limited resources. It means that resources are finite and cannot satisfy all human wants and needs.

To Economists, Scarcity Means That