Scarcity a. exists because people have wants that are unlimited ...

[anshika]

Scarcity
 a. exists because people have wants that are unlimited relative to the availability of resources to satisfy those wants
  b. applies when a resource is not freely available
  c. means that each society and each individual must make choices
  d. exists in all societies
  e. all of the above are true

Question 2

Scarcity is best defined as
 a. unlimited resources
  b. a shortage -- when buyers cannot obtain the goods they want
  c. a surplus -- when sellers cannot sell the goods they produce
  d. insufficient resources to satisfy unlimited wants
  e. the private ownership of society's resources

[Jordin Calloway]

Answer to Question 1

E

Answer to Question 2

D