Scarcity Exists Because

question 127

Multiple Choice

Scarcity exists because

• A)of unlimited resources.
• B)human wants are enormous relative to the means available to satisfy them.
• C)production is limited only by technology and human energy.
• D)advertising creates unnatural desires for surplus goods.

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Definitions:

Public Charity

A type of nonprofit organization that receives a significant portion of its funding from the public and operates for the benefit of the general public.

Income Statistics

Data that represent the distribution of income across different segments of the population.

Poverty

A condition where individuals or communities lack the financial resources and essentials for a minimum standard of living.

Social Security

A government program that provides financial support to individuals during retirement, disability, or upon the death of a primary wage earner.