Increasing efficiency will:
A) increase the problem of scarcity.
B) reduce the problem of scarcity.
C) eliminate the problem of scarcity.
D) have no effect on the problem of scarcity because there is a fixed supply of resources.

Question

Quizplus · Accepted Answer

Increasing efficiency in the use of resources can reduce the problem of scarcity by allowing more needs and wants to be met with the available resources. However, it does not eliminate scarcity, as resources are limited and wants are unlimited.

Increasing Efficiency Will