Question

What implication(s) does resource scarcity have for the satisfaction of wants?

• A. Not all wants can be satisfied
• B. We will never be faced with the need to make choices
• C. We must develop ways to decrease our individual wants
• D. The discovery of new natural resources is necessary to increase our ability to satisfy wants

Answer 1

Answer: (A)

Not all wants can be satisfied

According to the concept of scarcity, it is believed that resources are scarce, while there are unlimited human wants, which results in some wants remaining unsatisfied.