Because of scarcity,
A) it is impossible to satisfy every desire and choices must be made.
B) the available supply of time, goods, and resources is greater than human wants.
C) every desire is fulfilled.
D) there are no limits on the economy's ability to satisfy unlimited wants.

Question

Because of scarcity,
A) ​it is impossible to satisfy every desire and choices must be made.
B) ​the available supply of time, goods, and resources is greater than human wants.
C) ​every desire is fulfilled.
D) ​there are no limits on the economy's ability to satisfy unlimited wants.

Quizplus · Accepted Answer

Scarcity refers to the limited availability of resources in relation to unlimited human wants. This means that it is impossible to satisfy every desire and choices must be made, leading to the need for prioritization and trade-offs. Therefore, option A is the correct answer. Option B is incorrect as it states the opposite of scarcity. Option C is incorrect as it suggests that there are no unfulfilled desires, which is not the case. Option D is incorrect as it suggests that there are no limits to fulfilling unlimited wants, which is again not feasible due to scarcity.

Because of Scarcity