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13 December, 16:30

Resources are

a. abundant for households but scarce for the whole economy

b. abundant for households and the whole economy.

c. scarce for households and scarce for the whole economy.

d. scarce for households but abundant for the whole economy

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Answers (1)
  1. 13 December, 18:03
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    Answer: Scarce for households and scarce for the whole economy.

    Explanation:

    Resources are valuables such as: time, money, man power, land that are useful in creating things and making life easier for individuals.

    In economics, it is believed that resources are scarce when compared to the human wants. Therefore, one has to make do with the available resources to settle their needs and some wants. In most cases, choices have to made in order to know which needs/wants an individual may want to solve with their available resources.
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