The phenomenon of scarcity stems from the fact that
A)most economies' production methods are not very good.
B)in most economies, wealthy people consume disproportionate quantities of goods and services.
C)governments restrict production of too many goods and services.
D)resources are limited.

Question

Quizplus · Accepted Answer

Scarcity arises because resources (such as time, money, and raw materials) are limited, but the demand for goods and services is virtually unlimited. This fundamental economic problem affects all societies and economies, regardless of their wealth or production methods.

The Phenomenon of Scarcity Stems from the Fact That