Which statement is true?

A) Scarcity is simply a lack of money.
B) Our society has been so affluent in the last 50 years that scarcity is only a minor problem.
C) The economic problem refers to the problem of poverty.
D) If scarcity did not exist there would be no need to economize.

Scarcity

The fundamental economic problem of having seemingly unlimited human wants in a world of limited resources, leading to the necessity of making choices.

Economize

The act of reducing waste or optimizing the use of resources to save money or achieve greater efficiency.

Affluent

Describes individuals, communities, or nations with a high level of wealth and income, typically measured by the standard of living and purchasing power.