Multiple Choice
Which of the following statements best describes the problem of scarcity?
A) Scarcity means that shortages occur at the existing market price.
B) It is impossible to satisfy unlimited human wants with limited resources.
C) When there is scarcity, individuals do not face trade-offs.
D) As a result of scarcity, individuals do not have the ability to make choices.
Correct Answer:
Verified
Correct Answer:
Verified
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