Scarcity
A) exists in all human societies.
B) is a problem for less-developed nations only.
C) used to be a problem, but is not an issue for modern industrial nations.
D) afflicts greedy people only.

Question

Quizplus · Accepted Answer

Scarcity exists in all human societies because resources are limited but human wants and needs are unlimited. This is a fundamental economic problem that all societies face, regardless of their level of development or economic system.