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:

Cooperation

Working together with someone for mutual or reciprocal benefit.

Reciprocity

A social norm that involves mutual exchange of privileges, goods, services, or favors between individuals or groups.

Altruism

Selfless concern for the well-being of others, often leading to actions benefitting someone other than oneself.

Equity

The principle of fairness or justice in the way people are treated, including the distribution of resources or treatment based on needs and merits.