Scarcity A. requires individuals to make choices. B. exists only in less developed countries. C. affects only people whose income is below the poverty line. D. affects only single-parent households.

Question

Social Studies

Shawn Bonilla

13 November, 18:58

Scarcity A. requires individuals to make choices. B. exists only in less developed countries. C. affects only people whose income is below the poverty line. D. affects only single-parent households.

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Answers (1)

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Tristen Hooper · Answer 1

The correct answer is A. Requires individuals to make choices.

Explanation:

Scarcity is a basic factor in economics and related fields; this occurs as resources are not enough to meet individuals' desires that in most cases are limitless. Due to this, scarcity does not only affect people from certain classes but all individuals participating in an economy. Moreover, scarcity forces individuals to make choices because as individuals cannot get everything they want, they need to decide on how to use their resources to get available products and services according to basic needs but also desires. Thus, scarcity, "Requires individuals to make choices".