morganbrigid1 morganbrigid1

24-07-2024
Business

Answered

Economics deals with the condition of scarcity. What is "scarcity"?

Select one:
a. It is when you need more of something when it is not available.
b. It is when goods and services are held back to increase prices.
c. It is a condition where the government intentionally decreases product to increase profit.
d. It is when you desire more of something than what is available.

Answer :

GinnyAnswer GinnyAnswer

24-07-2024

Final answer:

Scarcity is a core concept in economics, highlighting the imbalance between human wants and available resources.

Explanation:

Scarcity is a fundamental concept in economics, indicating that human desires for goods and services surpass what is available. Resources like labor, tools, and raw materials are limited, leading to the necessity of making choices due to scarcity. Even time, the ultimate scarce resource, is finite for everyone.

Learn more about Scarcity in Economics here:

https://brainly.com/question/17430147

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