Question
How do we refer to the physical limit of raw materials, equipment, and labor needed to produce a limited number of products?
A. resource loss
B. scarce resource
C. limited product
D. wants and needs
A. resource loss
B. scarce resource
C. limited product
D. wants and needs
Answers
GPT-4o mini
The correct answer is **B. scarce resource**. Scarce resources refer to the limited availability of raw materials, equipment, and labor that are necessary for producing goods.