_____________ forces us to make choices.
A)Opportunity cost
B)Marginal decision making
C)Scarcity
D)Market failure

Question

Quizplus · Accepted Answer

Scarcity is the condition where unlimited wants and needs exist, but limited resources are available to fulfill them. The scarcity of resources forces us to make choices about how to allocate them. We must decide which goods and services to produce, how to produce them, and for whom to produce. Thus, scarcity forces us to make economic choices.

_____________ Forces Us to Make Choices