Scarcity requires that we:Multiple Choicemake sure we only want things that we are capable of consuming and producing. change our fiscal policy until the situation of scarcity is eliminated. make decisions in order to arrange our resources rationally. adopt economic policies that will lead to unlimited resources.

Question

Terrence French

Business

16 September, 07:36

Scarcity requires that we:Multiple Choicemake sure we only want things that we are capable of consuming and producing. change our fiscal policy until the situation of scarcity is eliminated. make decisions in order to arrange our resources rationally. adopt economic policies that will lead to unlimited resources.

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Answers (1)

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Karissa Faulkner · Answer 1

Answer: Option (A) is correct.

Explanation:

Scarcity refers to the problem that is experience by most of the developing countries. This situation occurs because of the shortage of resources in an economy and due to the shortage of resources, so firms unable to produce more and satisfy unlimited human wants. Humans wants are unlimited, hence it is difficult to satisfy all of their wants but some of them.

Therefore, we make sure that we only want things that we are capable of consuming and producing.