Scarcity results when available resources cannot satisfy all desired uses of those resources.
Wants exceed resources.

Name: Scarcity results when available resources cannot satisfy all desired uses of those resources. Wants exceed resources.
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Question

Quizplus · Accepted Answer

Scarcity is a situation where there is a limited supply of resources to satisfy unlimited wants and needs. Therefore, it is true that wants can exceed resources in a situation of scarcity.

Scarcity Results When Available Resources Cannot Satisfy All Desired Uses