The problem of scarcity
A)arises only in poor countries.
B)exists because the price of goods is too high.
C)exists because of limited resources.
D)will eventually be solved by better planning.

Question

Quizplus · Accepted Answer

Scarcity exists because of limited resources. This means that there is a finite amount of resources available to meet the unlimited wants and needs of people. It is not limited to poor countries but is a fundamental economic concept that affects all societies, whether rich or poor. While better planning can help manage scarcity, it cannot fully solve it.

The Problem of Scarcity