Scarcity is caused by
A)unlimited wants running up against limited economic resources.
B)lazy workers.
C)an individual's budget that is insufficient to cover the expenses of certain goods or services.
D)shortages.

Question

Quizplus · Accepted Answer

Scarcity is the result of having unlimited wants and needs that surpass the limited resources available to fulfill them. This is the fundamental economic problem that affects every society and creates the need for choices and trade-offs. Options B and C are partially related to scarcity, but they do not explain its root cause, while option D refers to a temporary situation in which the supply of a particular product is lower than the demand for it, but it does not capture the broader concept of scarcity.

Scarcity Is Caused by