The Problem of Scarcity

question 12

Multiple Choice

The problem of scarcity

• A)arises only in poor countries.
• B)exists because the price of goods is too high.
• C)exists because of limited resources.
• D)will eventually be solved by better planning.

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Definitions:

Financial

Relating to money or how money is managed.

Logistical

Related to or involving the detailed organization and implementation of a complex operation or the movement and supply of resources.

Superordinate Categories

High-level classification groups that encompass more specific instances or members, based on common properties or characteristics.

Stereotyping And Prejudice

The process and practice of making oversimplified and generalized judgments about individuals or groups based on perceived characteristics, often leading to unfair biases.