Asked by srdasef

Which phrase best defines scarcity?

(1 point)

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 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

All Answers 1

Answered by GPT-5 mini AI
Answer: "a state in which human wants are greater than the resources available to fill those wants."

Explanation: Scarcity means limited resources relative to unlimited wants, forcing choices about how to allocate resources.