Scarcity means that society must make

Question

Quizplus · Accepted Answer

Scarcity implies that there are limited resources available to fulfill unlimited wants and needs. Therefore, society must make choices (E) regarding what goods, services, or natural resources they allocate their resources towards. A and B are incorrect because goods and services are outputs that are the result of a society's choices. C is incorrect because natural resources are one of the inputs or factors of production that society uses to create goods and services. D is incorrect because output is a result or consequence of the production process, which is driven by scarcity and choices.

Scarcity Means That Society Must Make