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Question
Macroeconomics
Posted 3 months ago
What does it mean to say that a resource is scarce?
Choose 1 answer:
(A) A society does not have enough money to purchase this resource.
(B) Nobody wants to buy this resource.
(C) There is an unlimited amount of the resource available.

D There is not enough of this resource to satisfy all the wants and needs of a society.
(E) The resource is no longer available
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Answer from Sia
Posted 3 months ago
D
Key Concept
Scarcity
Explanation
Scarcity refers to the fundamental economic problem of having limited resources to meet unlimited wants and needs. It necessitates choices and prioritization in the allocation of resources.

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