Scarcity is a concept that applies to all of the following except
A)time.
B)natural resources.
C)human wants.
D)machinery.

Question

Quizplus · Accepted Answer

Scarcity refers to the basic economic problem that arises because people have unlimited wants but resources are limited. While time, natural resources, and machinery are all resources that can be scarce, human wants themselves are not considered a resource and thus cannot be scarce; they are unlimited.

Scarcity Is a Concept That Applies to All of the Following