Which of the Following Best Describes When Scarcity Occurs

question 75

Multiple Choice

Which of the following best describes when scarcity occurs?  

• A) when resources are unlimited 
• B) when there is a shortage, so buyers cannot obtain the goods they want 
• C) when there is a surplus, so sellers cannot sell the goods they produce 
• D) when resources are insufficient to satisfy unlimited wants

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Definitions:

Scientifically Conducted

Methods or procedures carried out with systematic, rigorous investigation and analysis to obtain evidence-based conclusions.

Crowdsourcing

The practice of obtaining ideas, services, or content by soliciting contributions from a large group of people, especially from an online community.

Decision Process

The sequence of cognitive operations or steps taken by individuals or groups in choosing among alternatives to reach a decision.

Alternative Solutions

Refers to various options or methods available for solving a problem or achieving an objective.