The scarcity problem indicates that
A) no matter how much one has,it is never enough.
B) compared to 100 years ago,individuals have less time today.
C) with limited resources,having more of "this" means having less of "that."
D) because trade-offs must be made,resources are therefore scarce.
E) the wealthier a person is,the fewer trade-offs he must makE.

Question

Quizplus · Accepted Answer

The scarcity problem refers to the fact that resources are limited, while people's wants and needs are unlimited. This implies that having more of one thing means having less of something else, which is captured by choice C.

The Scarcity Problem Indicates That