Scarcity is caused by
A) unlimited wants running up against limited economic resources.
B) lazy workers.
C) mechanical breakdowns at factories.
D) shortages.

Question

Quizplus · Accepted Answer

Scarcity is a fundamental economic problem caused by unlimited human wants or needs, which are greater than the resources available to satisfy them. Therefore, Option A which states “unlimited wants running up against limited economic resources” is the correct answer. Options B, C, and D are not relevant explanations for the concept of scarcity.

Scarcity Is Caused by