What does scarcity result from?
A) government decision making
B) positive economics
C) wants that exceed the resources necessary to provide them
D) inappropriate normative judgments

Question

Quizplus · Accepted Answer

Scarcity results from unlimited or insatiable wants or needs that exceed the resources necessary to provide them. While government decision-making may affect scarcity in certain circumstances, it is not the direct cause. Positive economics is a method of studying economic phenomena, not a cause of scarcity. Inappropriate normative judgments may influence economic decisions but are not the cause of scarcity.

What Does Scarcity Result From