The Existence of Relative Scarcity

question 44

Multiple Choice

The existence of relative scarcity

• A) refers to the fact that people only desire what they cannot have.
• B) is no longer relevant to the U.S. economy.
• C) creates the need to choose how to allocate resources.
• D) emphasizes the need to conserve free resources.
• E) means that every country can produce enough to fully satisfy every citizen's wants.

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Definitions:

Instrumental Tasks

The practical physical tasks necessary to maintain family life.

Instrumental Tasks

Practical tasks or activities aimed at achieving a specific goal or outcome.

Bedtime Stories

Narratives, often for children, shared before sleep to entertain, educate, or soothe.

Custody

The protective care or guardianship of someone or something, often used to describe the legal right to take care of a child.