Scarcity Applies To:​

question 51

Multiple Choice

Scarcity applies to:​

• A)​only the poor.
• B)​the value of our time.
• C)​both the rich and poor.
• D)​both (b) and (c)

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Definitions:

Economic Issues

Problems or challenges related to the production, distribution, and consumption of goods and services in a society.

Voters

Individuals who have the legal right and choose to participate in the decision-making process of an election by casting a vote.

Democracy Falter

Refers to the decline or weakening of democratic principles, institutions, and practices in a society.

Economic Collapse

A drastic downturn in the economy characterized by the extreme devaluation of currency, hyperinflation, and failure of key businesses leading to high unemployment and poverty.