All the problems studied in economics arise from
A) the unequal distribution of income
B) overpopulation
C) the scarcity of resources
D) inappropriate government action
E) war

Question

Quizplus · Accepted Answer

Scarcity of resources is the foundation of economics. It is the reality that people have unlimited wants and needs, but the resources to fulfill them are limited. This scarcity creates competition, choices, and trade-offs, leading to economic problems and issues that need to be addressed.

All the Problems Studied in Economics Arise from