Which phrase best defines scarcity?
A. a state in which productive resources are not enough to create a given good or service
B. a state in which human wants are greater than the resources available to fill those wants
C. a state in which too few choices exist for a consumer to fulfill needs and wants
D. a state in which the opportunity costs of a given choice are less than the benefits of a given choice
1 answer
B. a state in which human wants are greater than the resources available to fill those wants
34 answers