Question

Which of the following statements about scarcity is true? Select one:

a. Scarcity refers to the situation in which unlimited wants exceed limited resources.
b. Scarcity is not a problem for the wealthy.
c. Scarcity is only a problem when a country has too large a population.
d. Scarcity only arises when there is a wide disparity in income distribution.

Answer 1

A

Step-by-step explanation:

Scarcity is a situation where the available resources are limited not enough to meet the unlimited needs of people.