Intel finds it difficult to hire enough skilled computer engineers.Which economic concept does this statement BEST represent?
A) Scarcity
B) Specialization
C) Ceteris paribus
D) Trade-off

Question

Quizplus · Accepted Answer

The statement represents the economic concept of scarcity, which is the condition of unlimited wants but limited resources. In this case, the limited resource is the pool of skilled computer engineers that Intel can hire, leading to a scarcity of those skilled workers in the job market.

Intel Finds It Difficult to Hire Enough Skilled Computer Engineers