Which of the following is true?
A)As long as human wants exceed available resources, scarcity will exist.
B)Scarcity ultimately leads to competition for the available goods and services.
C)Scarcity affects everyone to the same degree.
D)All of the answers are true.
E)As long as human wants exceed available resources, scarcity will exist, and scarcity ultimately leads to competition for the available goods and services.

Question

Quizplus · Accepted Answer

As long as human wants exceed available resources, scarcity will exist because there will always be a limited supply of resources to satisfy an unlimited demand for goods and services. Scarcity ultimately leads to competition for the available goods and services because individuals and businesses must compete for the limited resources that are available. Therefore, both statement A and B are true, making choice E the best answer. Statement C is not true because the extent to which individuals are affected by scarcity varies depending on their income, location, and other factors.

Which of the Following Is True