Multiple Choice
In economics, the term "scarcity" refers to the fact that
A) everything really worthwhile costs money.
B) even in wealthy countries like the United States, some people are poor.
C) no society can produce enough to satisfy fully the desires of people for goods and services.
D) sometimes shortages of a good arise when its price is set below the market equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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