Scarcity Is Caused by

question 224

Multiple Choice

Scarcity is caused by

• A)unlimited wants running up against limited economic resources.
• B)lazy workers.
• C)an individual's budget that is insufficient to cover the expenses of certain goods or services.
• D)shortages.

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Definitions:

Fredric Jameson

Fredric Jameson is an American literary critic and theorist, known for his analysis of contemporary cultural trends and the influence of capitalism on art and society.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist whose works have influenced social theory and the development of the social sciences.

Capitalism

is an economic system characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production, and the distribution of goods that are determined mainly in a free market.

Alienation

A state or experience of being isolated, detached, or disconnected from oneself, others, or society, often used in social sciences to describe a sense of estrangement produced by social structures.