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24 July, 00:15

Which phrase best defines scarcity?

A. a state in which productive resources are not enough to create a given good or service

B. a state in which human wants are greater than the resources available to fill those wants

C. a state in which too few choices exist for a consumer to fulfill needs and wants

D. a state in which the opportunity costs of a given choice are less than the benefits of a given choice

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Answers (2)
  1. 24 July, 00:41
    0
    B because Scarcity is a short supply created by a high demand for that specific good or service.

    Explanation:

    Keep in mind the definition of Scarcity: short supply

    A is wrong because it narrows into a manufacturing scarcity instead of giving a broad overview of scarcity

    C is wrong because scarcity has nothing to do with choices

    D is wrong because scarcity has nothing to do with opportunity cost
  2. 24 July, 01:17
    0
    A is the answer
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Home » Social Studies » Which phrase best defines scarcity? A. a state in which productive resources are not enough to create a given good or service B. a state in which human wants are greater than the resources available to fill those wants C.
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