Scarcity Results from the Fact That

question 88

Multiple Choice

Scarcity results from the fact that

• A) not all goals are desirable.
• B) we cannot answer the major economic questions.
• C) choices made in self-interest are not always in the social interest.
• D) the population keeps growing.
• E) people's wants exceed the resources available to satisfy them

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Definitions:

Status and Resources

Refers to the varied position individuals or groups hold within a societal hierarchy and the material or non-material assets that they have access to.

Self-Actualization

The achievement of realizing one's own abilities and potentials, often seen as a universal motivation or need.

Abraham Maslow

An American psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, often considered as a drive or need present in everyone.