Scarcity is a problem in economics because it means that
A) all economies will be poor
B) we cannot produce all the goods we want
C) consumers will not be able to consume all of the goods that producers have the capacity to produce
D) we cannot produce all the food we would want
E) the economy cannot improve its peoples' standard of living

Question

Quizplus · Accepted Answer

Scarcity means that resources are limited and cannot satisfy all human wants and needs, so not all goods can be produced.

Scarcity Is a Problem in Economics Because It Means That