The statement "By the time our grandchildren are born,scarcity will not be a problem" is
A)possible only if technology advances at a great pace.
B)true,because we will learn to limit our wants in the future.
C)true,because by that time everyone's basic needs will be met.
D)false,because people always want more than there is available.

Question

Quizplus · Accepted Answer

The statement is false because scarcity is a fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It implies that no matter the advancements in technology or changes in behavior, the nature of human wants versus available resources will always result in some level of scarcity.

The Statement "By the Time Our Grandchildren Are Born,scarcity Will