Scarcity:
A)exists in command economies.
B)exists in market economies.
C)exists only for the poor in any type of economy.
D)(a) and (b) above are correct

Question

Scarcity:​
A)​exists in command economies.
B)​exists in market economies.
C)​exists only for the poor in any type of economy.
D)​(a) and (b) above are correct

Quizplus · Accepted Answer

Scarcity exists in both command and market economies because resources are limited and cannot satisfy all of society's wants and needs. This is not limited to the poor in any type of economy. Therefore, options (a) and (b) are correct.

Scarcity:​

Scarcity: