Scarcity Means

question 52

Multiple Choice

Scarcity means:

• A) Retail stores always run out of popular products.
• B) The desire for goods exceeds our capacity to produce them.
• C) Society will run out of the factors of production in the near future.
• D) A surplus of unsold goods in a specific market will not occur.

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Definitions:

Citizenship Values

Ethical standards and behaviors that relate to an individual's responsibilities, contributions, and participation within a society or community.

Community

A group of people living in the same place or having a particular characteristic in common, often marked by a sense of fellowship and shared values.

Marketization

The process by which sectors not traditionally subject to market forces are exposed to competitive pressures, often through privatisation or deregulation.

Charitable Contributions

Financial or material donations made to non-profit organizations or causes for the purpose of aiding those in need or supporting societal improvements.