Economists say all resources are scarce because: a. there is a limited number of entrepreneurs. c. production

Question

Economists say all resources are scarce because:
a.
there is a limited number of entrepreneurs.
c.
production is not equivalent to income.
b.
there are unlimited resources and limited wants and desires.
d.
there are limited resources and unlimited wants and demands.

GPT-5 mini · Answer

d. There are limited resources and unlimited wants and demands.

Explanation: Scarcity means resources (land, labor, capital, entrepreneurship) are limited while human wants are virtually unlimited, forcing choices about allocation.

Economists say all resources are scarce because:
a.
there is a limited number of entrepreneurs.
c.
production is not equivalent to income.
b.
there are unlimited resources and limited wants and desires.
d.
there are limited resources and unlimited wants and demands.

All Answers 1

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Economists say all resources are scarce because: a. there is a limited number of entrepreneurs. c. production is not equivalent to income. b. there are unlimited resources and limited wants and desires. d. there are limited resources and unlimited wants and demands.

All Answers 1

Submit Your Answer

Economists say all resources are scarce because:
a.
there is a limited number of entrepreneurs.
c.
production is not equivalent to income.
b.
there are unlimited resources and limited wants and desires.
d.
there are limited resources and unlimited wants and demands.