Scarcity exists in the world today because
A) human wants and desires are insatiable.
B) average households are too poor.
C) there is not enough money in the world.
D) people always make the wrong choices.
E) we are always producing the wrong things.

Question

Quizplus · Accepted Answer

Scarcity exists because human wants and desires are insatiable, meaning that there are not enough resources to satisfy everyone's needs and wants. As a result, individuals, firms, governments, and societies need to make choices about how to allocate scarce resources.

Scarcity Exists in the World Today Because