Scarcity
A)applies only to people living in poverty.
B)is not something that affects very rich people.
C)is the inability to satisfy all our wants.
D)used to exist everywhere but has been eliminated in advanced economies.
E)leads to higher prices.

Question

Quizplus · Accepted Answer

Scarcity is a fundamental economic problem where resources are limited and cannot satisfy all human wants and needs, affecting everyone regardless of wealth.