Which of the following is true?
A)Poverty, defined as the lack of a minimum level of consumption, could be potentially eliminated, but scarcity could not.
B)Scarcity could be potentially eliminated but poverty could not.
C)Both scarcity and poverty could be potentially eliminated.
D)Neither scarcity nor poverty could be potentially eliminated.

Question

Which of the following is true?​
A)​Poverty, defined as the lack of a minimum level of consumption, could be potentially eliminated, but scarcity could not.
B)​Scarcity could be potentially eliminated but poverty could not.
C)​Both scarcity and poverty could be potentially eliminated.
D)​Neither scarcity nor poverty could be potentially eliminated.

Quizplus · Accepted Answer

Scarcity, defined as the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources, is inherent to the human condition and cannot be eliminated. Poverty, on the other hand, refers to the lack of a minimum level of consumption and could be potentially eliminated through redistribution of resources, economic growth, and targeted policies.

Which of the Following Is True?​

Which of the Following Is True?