Because of scarcity:Question 1 options:a) we face tradeoffs in nearly every choice we make. b) choices are unlimited. c) wants are limited. d) resources are limitless.

a) Because of Scarcity : - we face tradeoffs in nearly every choice we make

Explanation:

Scarcity is the shortage of supply with comparison to demand.

Scarcity : Demand > Supply

Scarcity leads to trade off for each choice made, as each choice made has opportunity cost i. e something sacrifised to attain that choice.

This happens because scarcity arises out of - unlimited wants & limited resources having alternative uses.

Eg: Resources = Money Income, spending options = Food, Drinks.

If one chooses to eat a unit food, its opportunity cost i. e drinking beverages is traded off for that unit food eaten.