Which of the following is true of resources?
A) Their availability is unlimited.
B) They are the inputs used to produce goods and services.
C) Increasing the amount of resources available could eliminate scarcity.
D) Both b. and c. are true.

Question

Quizplus · Accepted Answer

Resources are the inputs used to produce goods and services. Scarcity arises because the amount of resources available is limited, which means that not all wants and needs can be satisfied. Increasing the amount of resources available could alleviate scarcity to some extent, but it cannot eliminate it completely. Option A is incorrect because resources are limited and not available in unlimited quantities. Option D is also incorrect because only option B is true.

Which of the Following Is True of Resources