Scarcity in Economics Means That

question 19

Multiple Choice

Scarcity in economics means that:

• A)we do not have sufficient resources to produce all of the goods and services we want.
• B)the wants of people are limited.
• C)there must be poor people in rich countries.
• D)economists are clearly not doing their job.

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Definitions:

Proximal Stimulus

The stimulus registered by the sensory receptors, for example, the pattern of light that hits the retina.

Immune System

The body's defense mechanism against pathogens, comprising various organs, tissues, and cells.

Grass Pollen

Microscopic grains released by grasses for the purpose of fertilization, often a common allergen for many people.

Allergen

A substance that can cause an allergic reaction in individuals who are sensitive to it, ranging from mild to severe responses.