Scarcity Exists Because

question 93

Multiple Choice

Scarcity exists because

• A) the majority of people in the world are poor.
• B) people are too greedy and refuse to share what they have with others.
• C) human wants exceed what can be produced with the limited resources available.
• D) not enough new technology is being used to eliminate scarcity.

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Definitions:

Union Density

Represents the percentage of workers in a specific sector or country that are members of labor unions.

U.S. Union

Labor organizations in the United States that represent the collective interests of workers in various industries and advocate for their rights.

Private and Public Sectors

The division of the economy into two parts; the private sector involves businesses owned by individuals or companies, and the public sector involves organizations owned and operated by the government.

Union Density

The ratio of unionized workers to the total number of workers, indicating the prevalence of union membership within a particular labor market.