Every social system confronts scarcity and so must
A)produce only free goods.
B)try to produce outside its production possibilities frontiers.
C)economize.
D)allocate goods by government edict.

Question

Quizplus · Accepted Answer

Every social system confronts scarcity, which means there are limited resources relative to unlimited wants and needs. To address this, economies must economize or make choices about how to allocate these scarce resources efficiently.

Every Social System Confronts Scarcity and So Must