Author Question: Scarcity is a problem: a. measured by the amount of goods available. b. of the poor, but not the ... (Read 42 times)

dmcintosh · **on:** Jun 30, 2018

Scarcity is a problem:
a. measured by the amount of goods available.
b. of the poor, but not the rich.
c. because human wants are unlimited while resources are limited.
d. only in industrialized economies.

Question 2

When economists say goods are scarce, they mean:
a. consumers are too poor to afford the goods and services available.
b. consumers are unwilling to buy goods unless they have very low prices.
c. goods are generally freely available from nature in most countries.
d. the desire for goods and services exceeds our ability to produce them with the limited resources available.