Scarcity exists because
A)some individuals have low incomes.
B)people take too much leisure time.
C)human wants exceed the resources available to satisfy them.
D)the costs of production are high.
E)some people make bad economic decisions.

Question

Quizplus · Accepted Answer

Scarcity exists because human wants exceed the resources available to satisfy them. This means that there is not enough of everything to satisfy everyone's wants and needs, which creates competition for resources and leads to scarcity. Other choices may also contribute to scarcity in specific cases, but they do not explain the fundamental reason why scarcity exists.

Scarcity Exists Because