Which one of the following is a necessary consequence of scarcity?
A)no choices required
B)high profits
C)the requirement of making choices
D)all wants are satisfied
E)low profits

Question

Quizplus · Accepted Answer

Scarcity refers to the limited availability of resources in relation to unlimited wants and needs. This necessitates making choices about how to allocate these resources. Therefore, the requirement of making choices is a necessary consequence of scarcity. The other options are not necessarily true, as high or low profits and all wants being satisfied do not necessarily have a direct relation to scarcity.

Which One of the Following Is a Necessary Consequence of Scarcity