If society lacks enough resources to satisfy all the desired uses of the resources,this is known as:
A) Government failure.
B) Laissez faire.
C) Scarcity.
D) Market failure.

Question

Quizplus · Accepted Answer

Scarcity occurs when there are not enough resources to satisfy all the desired uses. The other options - government failure, laissez faire, and market failure - do not specifically refer to the situation of limited resources.

If Society Lacks Enough Resources to Satisfy All the Desired