The Concept of Scarcity in Economics Usually Refers to a Condition

Multiple Choice

The concept of scarcity in economics usually refers to a condition

A) where society is not employing all of its available resources in an efficient manner.
B) that afflicts only poor countries.
C) where people's wants can never be satisfied by the available resources.
D) where production is efficient, but distribution is inefficient.
E) where too many frivolous goods and services are produced at the expense of socially desirable goods and services.