Scarcity Is a Situation in Which

question 125

Multiple Choice

Scarcity is a situation in which

• A) people cannot satisfy all their wants.
• B) most people can get only bare necessities.
• C) people can satisfy all their wants.
• D) some people can get all they want and some cannot.

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Definitions:

Ethical Relativism

The theory that moral principles are not universal truths but instead vary based on cultural, societal, or personal perspectives.

Ethical Absolutism

The philosophical belief that certain actions are absolutely right or wrong, regardless of context or consequences.

Lived Experience

The personal knowledge and understanding one gains through direct, firsthand involvement in everyday events rather than through representations constructed by others.

Classism

Prejudice or discrimination based on social class or perceived social class.