Scarcity Is a Problem

question 65

Multiple Choice

Scarcity is a problem:

• A) measured by the amount of goods available.
• B) of the poor, but not the rich.
• C) because human wants are unlimited while resources are limited.
• D) only in industrialized economies.

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Definitions:

Division

A mathematical operation that involves dividing one quantity by another to determine how many times the first is contained in the second.

Multiplication

A fundamental arithmetic operation that combines two quantities to find their product.

Correct

Free from errors or inaccuracies; to make or set right.

Cent

A unit of currency equaling one hundredth of various dollar bills and other units of currency.