When Economists Say Goods Are Scarce, They Mean

question 65

Multiple Choice

When economists say goods are scarce, they mean

• A) consumers are too poor to afford the goods and services available.
• B) consumers are unwilling to buy goods unless they have very low prices.
• C) goods are generally freely available from nature in most countries.
• D) the desire for goods and services exceeds our ability to produce them with the limited resources available.

---

Definitions:

Personality Theorists

Researchers or scholars who study or develop theories about the characteristics that make a person unique.

Range

The difference between the highest and lowest values in a set of numbers, indicating the spread or variation within the data.

Heredity

The biological process through which genetic traits are transmitted from parents to their offspring.

Personality Development

The growth and development of the psychological characteristics and traits that define an individual.