If there is no scarcity,
A) the opportunity cost of an action would be greater than its sunk cost.
B) an action would have zero opportunity cost.
C) choices are no longer rational.
D) marginal cost of an action is greater than its marginal benefit.
E) all marginal benefits would equal zero.

Question

Quizplus · Accepted Answer

Scarcity is the fundamental economic problem that drives all human behavior. It means that we have limited resources to satisfy unlimited wants and needs. If there were no scarcity, then everything would be available in unlimited quantities, and there would be no need to choose between alternatives. Therefore, there would be zero opportunity cost for any action taken.

If There Is No Scarcity