Question

When there are unlimited wants and needs with limited resources, ___________ occurs.

Option 1: Responses
Option 2: Economics
Option 3: Allocation
Option 4: Scarcity

Answer 1

Scarcity occurs when there are unlimited wants and needs with limited resources. People have to make choices because they cannot have everything they want.

Step-by-step explanation:

Scarcity occurs when there are unlimited wants and needs with limited resources. It means that there is not enough to satisfy all the wants and needs of individuals or a society. In other words, when there is scarcity, people have to make choices because they cannot have everything they want.