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Author Question: Scarcity a. exists because people have wants that are unlimited relative to the availability of ... (Read 13 times)

anshika

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on: Jul 1, 2018
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

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Reply #1 on: Jul 1, 2018
Answer to Question 1

E

Answer to Question 2

D


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