The characteristic from which all economic problems arise is
A)providing a minimal standard of living for every person.
B)hunger.
C)the nature of political decisions.
D)how to make a profit.
E)scarcity.

Question

Quizplus · Accepted Answer

Scarcity refers to the limited availability of resources relative to their demand. This creates the need for individuals, businesses, and governments to make choices about how to allocate resources in the most efficient way possible. All economic problems, such as how to produce, what to produce, and for whom to produce, arise from the fundamental problem of scarcity.

The Characteristic from Which All Economic Problems Arise Is