Author Question: Scarcity a. exists because people have wants that are unlimited relative to the availability of ... (Read 69 times)

anshika

  • Hero Member
  • *****
  • Posts: 510
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

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

E

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

For a complete list of videos, visit our video library