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What Do Economists Mean When They Say Goods Are Scarce

Question 12

Multiple Choice

What do economists mean when they say goods are scarce?


A) Government programs are needed to lift families out of poverty.
B) At the current price, consumers are willing to buy more of a good than suppliers are willing to produce.
C) Consumers do not have enough money to purchase the goods.
D) The desire for goods and services exceeds our ability to produce them with limited resources.

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