What is scarcity?(1 point)
Responses
a the difference between the income and expenses of a government
b the idea that all resources are limited
c the amount that people want a certain good or service to be
d the idea that some resources are limited
2 answers
d the idea that some resources are limited
Correct! Scarcity refers to the fact that some resources are limited and cannot be produced or obtained in infinite quantities. This means that people must make choices about how to use these resources, as they cannot have everything they want.
1 answer