Scarcity means we must
A) consume less.
B) produce less.
C) make choices.
D) earn more.
E) work more.

Question

Quizplus · Accepted Answer

Scarcity means that there are limited resources relative to unlimited wants and needs. This requires individuals, businesses, and governments to make choices about what they will produce, consume, and distribute. Therefore, the best choice in this scenario is to make choices (C). The other options, consuming less (A), producing less (B), earning more (D), and working more (E), may be ways of dealing with scarcity but are not the fundamental solution to the problem of making choices in a world of limited resources.

Scarcity Means We Must