Which of the Following Statements About Economic Scarcity Is FALSE

question 320

Multiple Choice

Which of the following statements about economic scarcity is FALSE?

• A) Scarcity occurs among the poor and the rich.
• B) Scarcity only occurs if there are shortages and people wait in line to buy things.
• C) Scarcity results from not having enough resources to produce all the things we want.
• D) Scarcity results in the necessity to make choices.

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Definitions:

Socio-Economic

Pertaining to or dealing with how social and economic elements impact each other.

CSR Approaches

Strategies and practices companies use to conduct business in an ethical and socially responsible manner, aiming to positively impact society.

Social Responsibility Audit

An evaluation process assessing how well a company’s operations align with societal expectations regarding environmental, ethical, and social standards.

Corporate Social Responsibility

The concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with stakeholders on a voluntary basis.