Scarcity is a condition that exists when
A) there is a fixed supply of resources relative to the demand for the product.
B) there is a large demand for a product.
C) resources are not able to meet the entire demand for a product.
D) All of the above
C
Economics
You might also like to view...
The easiest way to create greater income equality is to _____
a. raise everyone's income by the same percentage b. raise everyone's income by the same amount c. raise the incomes of the poor d. lower the incomes of the rich
Economics
Savers in the financial system make decisions about how to save their money by following the basic principles of:
A. asset valuation. B. cost benefit analysis. C. rate of return on investments. D. risk valuation.
Economics