Scarcity means that
A) what we can produce with our resources is greater than our material wants.
B) resources are unlimited.
C) wants are greater than what we can produce with our resources.
D) governments must make up for shortages in resources.
E) choices made in self-interest cannot be the same as those made in the social interest.

Question

Quizplus · Accepted Answer

Scarcity refers to the imbalance between unlimited wants and limited resources to satisfy those wants. Choice C correctly identifies this relationship. Choices A, B, D, and E do not accurately define scarcity.

Scarcity Means That