What statement describes the reality of scarcity?
A) There are NOT enough jobs available to all people.
B) There are NOT enough resources to satisfy people's unlimited wants.
C) There are NOT enough resources to satisfy people's limited wants.
D) There are NOT enough taxes to fund daycare spaces.

Question

What statement describes the reality of scarcity?  
A) There are NOT enough jobs available to all people. 
B) There are NOT enough resources to satisfy people's unlimited wants. 
C) There are NOT enough resources to satisfy people's limited wants. 
D) There are NOT enough taxes to fund daycare spaces.

Quizplus · Accepted Answer

Scarcity refers to the limited availability of resources relative to people's unlimited wants and needs. Therefore, choice B is the correct statement as it describes the reality of scarcity. Choices A, C, and D are either incorrect or irrelevant to the concept of scarcity.

What Statement Describes the Reality of Scarcity