Scarcity is a situation in which ___________.

wants exceed the resources available to satisfy them

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something is being wasted

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people are poor

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none of the above

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Solution

The correct option is D wants exceed the resources available to satisfy them
The resources available to mankind are limited, however, the wants of the people are unlimited in nature. This leads to a shortage of resources, which satisfy these wants, which is termed as scarcity.

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Scarcity is a situation in which ___________.

The correct option is D wants exceed the resources available to satisfy themThe resources available to mankind are limited, however, the wants of the people are unlimited in nature. This leads to a shortage of resources, which satisfy these wants, which is termed as scarcity.

The correct option is D wants exceed the resources available to satisfy them
The resources available to mankind are limited, however, the wants of the people are unlimited in nature. This leads to a shortage of resources, which satisfy these wants, which is termed as scarcity.