Economics

Which phrase best defines scarcity?
A. a state in which productive resources are not enough to create a given good or service
B. a state in which human wants are greater than the resources available to fill those wants
C. a state in which too few choices exist for a consumer to fulfill needs and wants
D. a state in which the opportunity costs of a given choice are less than the benefits of a given choice

I believe the answer is B, as scarcity is having limited resources for unlimited wants.

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  1. I agree. Good analysis, comparing the definition with the four choices. Nice!

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    Writeacher
  2. I am inclined to agree with you.

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    Damon
  3. Thank you! It was correct.

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