Question

Which of the following best characterizes a resource as scarce?

A.The production of the resource exceeds the demand for it.
B.The resource is renewable.
C.The consumer demand for the resource exceeds the amount available.
D.The government subsidizes the resource.

Answer 1

Scarcity means human wants for goods and services exceed the available supply. Supply is limited because resources are limited. Demand, however, is virtually unlimited.

Step-by-step explanation:

Scarcity means human wants for goods and services exceed the available supply. Supply is limited because resources are limited. Demand, however, is virtually unlimited. Whatever the supply, it seems human nature to want more.