Resources are unlimited in a wealthy society.

Unlimited Resources

A hypothetical scenario in which all resources are abundant and easily accessible, eliminating scarcity.

Wealthy Society

A society characterized by a high level of economic riches, lifestyle quality, and available resources for its members.

Recognize the principle of scarcity and its consequences for opportunity costs and the distribution of resources.

Verified Answer

Final Answer :

False

Explanation :

Even in wealthy societies, resources are limited as they cannot meet the unlimited wants and needs of individuals.

Learning Objectives

Recognize the principle of scarcity and its consequences for opportunity costs and the distribution of resources.