Question

Do you think the problem of scarcity could ever be solved?

a. Yes, through technological advancements.
b. No, scarcity is inherent in human needs and wants.
c. Maybe, with effective resource management.
d. Uncertain, it depends on global cooperation.

Answer 1

Scarcity cannot be completely solved. However, it can be mitigated through technological advancements, effective resource management, and global cooperation.

Step-by-step explanation:

Scarcity refers to the concept of limited resources and unlimited wants. It is a fundamental problem in economics that cannot be completely solved. However, there are ways to mitigate the effects of scarcity:

1. Through technological advancements: Technological progress can increase productivity and efficiency, allowing us to produce more with the same amount of resources. This can help alleviate scarcity to some extent.
2. With effective resource management: Proper management of resources can ensure their efficient allocation and reduce waste, thus minimizing the impact of scarcity.
3. Depends on global cooperation: Global cooperation and collaborative efforts can help address resource scarcity on a broader scale. By sharing knowledge and resources, countries can work together to find sustainable solutions to scarcity challenges.