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What term is used to describe the difference between limited resources and wants and needs? A. scarcity B. economics C. opportunity cost

2 Answers

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a. scarcity

hope this helps! :3

User Manidos
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5 votes

Buehlermaci,

The answer is option A "scarcity." It's not option B because economics is the distribution or a production of a item. It's not option C because opportunity cost is when you are looking at the value of two things before you make a decision on which you want kinda like pros and cons. Scarcity is the shortage on a resource but the person decides to spend it on wants and needs so basically the difference between limited resources and wants and needs.

Hope this helps!

User Patthoyts
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