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

Kaitlyn Barnes · Accepted Answer

Final Answer : D, Explanation :  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

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.

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Learning Objectives

Related questions

The phenomenon of scarcity stems from the fact thatA) 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.

Definitions

Learning Objectives

Learning Objectives

Related questions

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.