If resources are scarce,it means that they:

A) are insufficient to provide enough goods and services to satisfy all human material wants and needs.
B) have no opportunity cost.
C) are probably not valued by consumers.
D) have an unlimited supply.

Question

Carter Kreis · Accepted Answer

Final Answer : A, Explanation :  Scarce resources refer to resources that are limited in supply and cannot fulfill all human wants and needs. Therefore, A is the correct choice as it accurately defines the concept of scarce resources. B, C, and D are incorrect as they do not define the concept of scarce resources.

If resources are scarce,it means that they:

A) are insufficient to provide enough goods and services to satisfy all human material wants and needs.
B) have no opportunity cost.
C) are probably not valued by consumers.
D) have an unlimited supply.

Definitions

Learning Objectives

Learning Objectives

Related questions

If resources are scarce,it means that they:A) are insufficient to provide enough goods and services to satisfy all human material wants and needs.B) have no opportunity cost.C) are probably not valued by consumers.D) have an unlimited supply.

Definitions

Learning Objectives

Learning Objectives

Related questions

If resources are scarce,it means that they:

A) are insufficient to provide enough goods and services to satisfy all human material wants and needs.
B) have no opportunity cost.
C) are probably not valued by consumers.
D) have an unlimited supply.