Scarcity results from the fact that
A)choices made in self-interest are not always in the social interest.
B)people's wants exceed the resources available to satisfy them.
C)we cannot answer the major economic questions.
D)the population keeps growing.
E)not all goals are desirable.

Question

Quizplus · Accepted Answer

Scarcity exists because human wants and needs are infinite, while the resources needed to fulfill these wants and needs are limited. Therefore, people must make choices about how to allocate these scarce resources, which results in scarcity.

Scarcity Results from the Fact That