Asked by Kaitlyn Wallace on Jul 07, 2024
Verified
Because resources are scarce, a society cannot give all individuals the standard of living to which each aspires.
Scarce Resources
Resources that are limited in supply and cannot satisfy all human wants and needs.
Standard Of Living
A level of material comfort in terms of goods and services available to someone or some group.
- Understand the principles of scarcity and its impact on decision-making.
Verified Answer
SF
Surafal FelekeJul 10, 2024
Final Answer :
True
Explanation :
Due to the scarcity of resources, societies must make choices and trade-offs, meaning not everyone can achieve their desired standard of living.
Learning Objectives
- Understand the principles of scarcity and its impact on decision-making.