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
3 answers
a state in which productive resources are not enough to create a given good or service
are you sure??
I apologize for the duplication. Let me try again. The correct definition for scarcity would be:
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