Scarcity results from the fact that
A) people's wants exceed the resources available to satisfy them.
B) not all goals are desirable.
C) we cannot answer the major economic questions.
D) choices made in self-interest are not always in the social interest.
E) the population keeps growing.

Question

Quizplus · Accepted Answer

Scarcity exists because people have unlimited wants and needs but there are only limited resources available to fulfill them. As a result, people must prioritize and allocate these resources, leading to scarcity.

Scarcity Results from the Fact That