Scarcity is the result of:
A)government decision making.
B)inappropriate normative judgments.
C)positive economics.
D)wants that exceed the resources necessary to provide them.

Question

Scarcity is the result of:
A)​government decision making.
B)​inappropriate normative judgments.
C)​positive economics.
D)​wants that exceed the resources necessary to provide them.

Quizplus · Accepted Answer

Scarcity is caused by the fact that people have unlimited wants and needs, but the resources to fulfill those wants and needs are limited. This is the basis of the economic problem.

Scarcity Is the Result Of