When an Economist Talks of Scarcity, the Economist Is Referring

question 461

Multiple Choice

When an economist talks of scarcity, the economist is referring to the

• A) ability of society to employ all of its resources.
• B) ability of society to consume all that it produces.
• C) inability of society to satisfy all human wants because of limited resources.
• D) ability of society to continually make technological breakthroughs and increase production.

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Definitions:

Species

A community of biological entities that consists of nearly identical members capable of gene exchange or mutual breeding.

Adaptations

Physical or behavioral changes in organisms that enhance their ability to survive and reproduce in specific environments.

Interspecific Competition

A form of competition in which individuals of different species compete for the same resource in an ecosystem.

Fire Ant

A type of ant known for its aggressive behavior and painful sting, often causing ecological problems where they are introduced outside their native range.