If scarcity didn't exist,neither would
A) rationing devices.
B) competition.
C) labor.
D) capital.
E) a and b

Question

Quizplus · Accepted Answer

Scarcity is the fundamental economic problem that arises from society having limited resources and unlimited wants and needs. In the absence of scarcity, there would be no need for rationing devices or competition, as all goods and services would be freely available. Labor and capital may still exist, but their roles in the economy would be different without the constraints of scarcity. Therefore, the best choice is E, as both answer choices A and B are consequences of scarcity.

If Scarcity Didn't Exist,neither Would