The Fact That There Are Too Few Resources to Satisfy

question 23

Multiple Choice

The fact that there are too few resources to satisfy all our wants is attributed to

• A)Scarcity.
• B)Greed.
• C)Shortages.
• D) lack of money.

---

Definitions:

Factors of Production

The resources, including land, labor, capital, and entrepreneurship, utilized in the production of goods and services.

Entrepreneurs

Individuals who start and manage their own business, taking on financial risks in the hope of profit.

Government Intervention

The involvement of a government in a market or economy typically through regulations, policies, or direct actions to influence outcomes like protecting consumers or stimulating economic growth.

Private Enterprise System

An economic system where private individuals or groups have the right to own property or businesses and make a profit with limited government intervention.