Scarcity applies to everyone regardless of income.

Name: Scarcity applies to everyone regardless of income.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Scarcity is the basic economic problem of having unlimited human wants in a world of limited resources, and it affects all individuals and societies, regardless of their income levels. Everyone faces scarcity in terms of time, money, and resources, and must make choices on how to allocate and utilize these limited resources to satisfy their needs and wants.

Scarcity Applies to Everyone Regardless of Income