The scarcity problem:
A)persists only because countries have failed to achieve continual full employment
B)persists because a society's consumer wants exceed its available economic resources
C)has been eliminated in all industrialized nations
D)has been eliminated in affluent societies such as Canada and the United States
E)is eliminated when a nation has achieved full employment

Question

Quizplus · Accepted Answer

The scarcity problem persists because a society's unlimited wants and needs exceed the limited resources available to fulfill them. This is a fundamental economic problem that exists regardless of the level of employment or affluence in a society.

The Scarcity Problem