Question

What is the definition of scarcity? (1 point) Responses when limited resources cannot meet unlimited wants when limited resources cannot meet unlimited wants a willingness to pay for a good or service a willingness to pay for a good or service the total amount goods or services available for purchase the total amount goods or services available for purchase a decrease in population

Answer 1

[AI-generated answer — Bot GPT 3.5]

Scarcity is when limited resources cannot meet unlimited wants.