Scarcity can be eliminated through
A) the use of market mechanisms.
B) exploration that helps us find new resources.
C) wise use of our resources.
D) None of the above because scarcity cannot be eliminated.

Question

Quizplus · Accepted Answer

Scarcity is a fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It cannot be eliminated, as resources will always be limited and desires potentially infinite, regardless of market mechanisms, exploration, or resource management.

Scarcity Can Be Eliminated Through