Scarcity implies that every society and every individual face trade-offs because scarcity means that A. people refuse to limit their wants. B. human wants are greater than what available resources can produce. C. people are greedy and won't share with others. D. government is unwilling to redistribute wealth.

Question

Social Studies

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31 January, 01:03

Scarcity implies that every society and every individual face trade-offs because scarcity means that A. people refuse to limit their wants. B. human wants are greater than what available resources can produce. C. people are greedy and won't share with others. D. government is unwilling to redistribute wealth.

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Answers (1)

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Goldie · Answer 1

The correct option is: B. human wants are greater than what available resources can produce

Explanation:

Scarcity is the basic economic problem which is characterized by a gap between limited availability of resources or commodity and the limitless human needs.

Scarcity is also called paucity, is described as the limited supply of resources such as money, time, land, tools, labor, tools, raw materials and land.