Which of the Following Best Describes Scarce Resources

question 74

Multiple Choice

Which of the following best describes scarce resources?

• A) Resources that most people cannot afford to buy
• B) Resources that can only be distributed efficiently by the government
• C) Resources for which the quantity demanded is the same for all economic agents
• D) Resources for which the quantity that people want exceeds the quantity that is freely available

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Definitions:

Sales

The process of selling goods or services in exchange for money or other compensation.

Supplier Relationship

The interaction and management of connections between a company and the businesses that supply the materials or services it uses in its operations.

Verbal Understandings

Agreements or terms reached through spoken communication, which may not be formally documented in writing.

Existing Business

A company or enterprise that has been operational for some time, as opposed to a newly established entity.