Question

Governments may face the problem of shortages but not scarcity in making economic decisions.

b. firms and the government face​ scarcity, individuals only face shortages.
c. each faces the problem of scarcity which necessitates trademinus−offs in making economic decisions.
d. only individuals face​ scarcity; firms and the government do not.

Answer 1

c each faces the problems of scarcity which necessitates trademinus-offs in making economic decisions