The phrase that best defines scarcity is:
a state in which human wants are greater than the resources available to fill those wants.
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Question
Which phrase best defines scarcity?
(1 point)
Responses
a state in which productive resources are not enough to create a given good or service
a state in which productive resources are not enough to create a given good or service
a state in which human wants are greater than the resources available to fill those wants
a state in which human wants are greater than the resources available to fill those wants
a state in which too few choices exist for a consumer to fulfill needs and wants
a state in which too few choices exist for a consumer to fulfill needs and wants
a state in which the opportunity costs of a given choice are less than the benefits of a given choice
1 answer
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