The fact that there are too few resources to satisfy all our wants is attributed to
A)Scarcity.
B)Greed.
C)Shortages.
D)Lack of money.

Question

Quizplus · Accepted Answer

Scarcity refers to the concept that our wants and needs are greater than the resources available to produce the goods and services we desire. Therefore, we must make choices about how to allocate these limited resources. Greed and lack of money may contribute to the problem of scarcity, but they are not the root cause. Shortages are a temporary situation in which the demand for a good or service exceeds the available supply, which also can be caused by scarcity.

The Fact That There Are Too Few Resources to Satisfy