The Basic Economic Problem of Scarcity

question 25

Multiple Choice

The basic economic problem of scarcity

• A)has always existed and will continue to exist.
• B)will eventually disappear as technology continues to advance.
• C)is a problem only in developing economies.
• D)does not apply to the wealthy in society.

---

Definitions:

Ethanol Fuel

A biofuel alternative to gasoline, made from corn, sugarcane, or other plant biomass, which is used to power vehicles and reduce greenhouse gas emissions.

Aging Process

The natural sequence of physical, psychological, and social changes that occur as living beings advance in age.

Tomatoes

A widely cultivated fruit, botanically a berry, consumed in diverse ways, including raw, as an ingredient in many dishes and sauces, and processed into products like ketchup.

Population

The total number of people inhabiting a particular area, region, or country.