Scarcity occurs in everyday life because:
A)resources are limited.
B)the wants of individual consumers are limited.
C)there are poor people even in rich countries.
D)taxes keep prices higher than they would otherwise be.

Question

Quizplus · Accepted Answer

Scarcity occurs in everyday life because resources are limited, meaning there are not enough resources to satisfy everyone's wants and needs. This leads to choices and trade-offs having to be made, as not everyone can have everything they want.

Scarcity Occurs in Everyday Life Because