Question

TRUE / FALSE.

Correct answers will receive 1 mark. Incorrect answers will receive -0.75 mark. An answer left blank will receive 0 marks. So decide carefully before you answer.*** Goods and services are scarce because resources are scarce. Select one: O a. True O b. False

Answer 1

The given statement is true.

Step-by-step explanation:

The production of goods and services requires the use of resources and factor inputs. The resources are in limited supply and hence the goods and services produced using them are also in limited supply.