'Scarcity' Refers to a Situation in Which Unlimited Wants Exceed

question 12

True/False

'Scarcity' refers to a situation in which unlimited wants exceed the limited resources available to fulfil those wants.

---

Definitions:

Behavioral Traits

Characteristics or patterns of behavior that are observable and often considered to be inherent or acquired through interaction with the environment.

Consistency

The quality of always behaving in the same way or having the same attitudes, standards, and beliefs, leading to reliability and predictability.

Distinctiveness

How much an individual's behavior in a given situation differs from their behavior in other situations.

Consistency

The quality of always behaving or performing in a similar way, maintaining the same standards throughout.