Scarcity of Resources Means That All Wants Can Never Be

question 101

True/False

Scarcity of resources means that all wants can never be satisfied.

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Definitions:

Sole Proprietorship

A business structure where one individual owns and operates the business, bearing unlimited liability for its debts and obligations.

Registered

The process of recording information or property, like trademarks or land, with an official agency to establish legal ownership and protection.

Licence

A non-exclusive right to use property; revocable permission to use another’s land.

Sole Proprietor

An individual who owns and operates a business alone, bearing full responsibility for all debts and obligations of the business.