Question

All goods and services are scarce because

A. some goods cost more than others.
B. resources are limited.
C. things are either needs or wants.
D. greedy people want too many goods

Answer 1

The answer is letter b. Resources are limited. There are times when there is not enough resources to produce goods that people demand for. This leads to an increase in prices due to the demand for the product. Suppliers will then have to find sources to keep on producing.