The scarcity problem: Group of answer choices has been solved in all industrialized nations. persists because economic wants exceed available productive resources. persists only because countries have failed to achieve continuous full employment. has been eliminated in affluent societies such as the United States and Canada.

Question

Karissa Espinoza

Business

31 March, 02:01

The scarcity problem: Group of answer choices has been solved in all industrialized nations. persists because economic wants exceed available productive resources. persists only because countries have failed to achieve continuous full employment. has been eliminated in affluent societies such as the United States and Canada.

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Answers (1)

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Emery Blevins · Answer 1

persists because economic wants exceed available productive resources.

Explanation:

The scarcity problem is the fundamental economic problem in every kind of society: from the most primitive, to the most advanced, and this is because the nature of human beings is that they are never fully satisfied, and always want more, no matter how rich or poor they are.

In advanced nations such as the United States, Switzerland, or Norway, the scarcity problem still exists. This is why there are economists in these countries in the first place, and why economic policy is a central part of any politician's and government's platform.