Yes, that is correct. All goods and services are scarce because resources are limited (option B). This means that there is a finite amount of resources available, such as land, labor, capital, and entrepreneurship, to produce goods and services. Since resources are limited, it is not possible to produce an unlimited amount of goods and services to satisfy all human wants and needs. This scarcity of resources creates a situation where people have to make choices about how to allocate those resources to produce and distribute goods and services.
