Question

Resources are scarce in relation to ___________.

• A. human wants
• B. firm's profit motive
• C. country's social goals
• D. all of the above

Answer 1

Answer: (D)

all of the above

Scarce resources refers to the resources which are limited in quantity and have alternative uses in production of various commodities due to which their wants are unlimited. So the resources are scarce due to aggregate supply of the economy which is also limited owing to limited source of inputs as there are some organisational as well as social obligation at the time of production.