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Which of the following terms describes the economic problem that forces individuals, businesses, governments, and societies to make choices about how to use limited resources to meet their unlimited needs and wants?

A. Trade-Offs
B. Opportunity Cost
C. Shortage
D. Scarcity



Answer :

GinnyAnswer

Final answer:

Scarcity is the economic problem that necessitates choices due to limited resources and unlimited needs and wants.


Explanation:

Scarcity is the economic problem that forces individuals, businesses, governments, and societies to make choices. These choices revolve around how to utilize limited resources to fulfill unlimited needs and wants. This concept leads to the necessity of trade-offs in decision-making.


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