Scarcity Exists Because

question 113

Multiple Choice

Scarcity exists because:

• A) human wants exceed the resources available to satisfy them.
• B) some people make bad economic decisions.
• C) people take too much leisure time.
• D) some individuals have low incomes.
• E) the costs of production are high.

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Definitions:

Optic Nerve

The structure at the back of the eye, made up of axons of the ganglion cells, that carries visual information to the brain for further processing.

Blind Spot

An area in the visual field that lacks light-detecting photoreceptor cells on the optic disc of the retina, making it insensitive to light.

The Retina

The retina is a layer of tissue at the back of the eye that senses light and sends signals to the brain, enabling visual perception.

The Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, contributing to the eye's focusing power.