Society faces trade-offs because of
A)government regulations.
B)the profit motive.
C)price setting by firms.
D)scarcity.

Question

Quizplus · Accepted Answer

Society faces trade-offs because of scarcity, which means there are limited resources to fulfill unlimited wants and needs. This requires individuals and society as a whole to make choices, including trade-offs between different options, in order to allocate these scarce resources effectively. Government regulations, the profit motive, and price setting by firms can all be factors that influence these trade-offs, but they are not the primary cause of them.

Society Faces Trade-Offs Because of