Scarcity applies to:
A)only the poor.
B)everyone but the very wealthy.
C)the value of our time.
D)both the rich and poor.
E)the value of our time and to both the rich and poor.

Question

Quizplus · Accepted Answer

Scarcity is a fundamental economic problem that affects everyone, regardless of wealth, because resources are limited and choices must be made about how to allocate them. It applies to both the rich and poor and also to the value of our time, as time is a finite resource.

Scarcity Applies To