Question

Why do economists say that scarcity is everywhere? 40

A. The resources needed to produce goods and services are insufficient to meet the
demand for them.
B. Most people never have enough resources to meet their basic daily needs.
C. Everyone can get all the goods and services they need to meet their wants.
D. Our ability to satisfy our wants is unlimited.

Answer 1

Economists say that scarcity is everywhere because there are insufficient resources to meet the demand for goods and services. (option A) This leads to limited availability of resources to fulfill everyone's wants and needs.

Step-by-step explanation:

Economists say that scarcity is everywhere because the resources needed to produce goods and services are insufficient to meet the demand for them. This means that there are not enough resources to fulfill everyone's wants and needs. Even though individuals may have unlimited wants, the resources available to satisfy those wants are limited, leading to scarcity. For example, while everyone requires food, decent housing, and healthcare, there are people in every country who are hungry, homeless, and in need of healthcare due to scarcity.