Scarcity Can Best Be Defined as a Situation in Which

question 110

Multiple Choice

Scarcity can best be defined as a situation in which:

• A) consumers look for bargains.
• B) some producers are selfish with resources.
• C) people respond to incentives.
• D) all wants cannot be satisfied due to resource constraints.

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Definitions:

Explanandum

This is the phenomenon or event that needs to be explained in scientific or philosophical inquiry.

Explanation

The act of making something clear or understandable by describing the relevant facts or ideas.

Sweater

A knitted garment typically with long sleeves, worn over the upper body.

Explanandum

The phenomenon or event that is being explained in a scientific theory or investigation.