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Which of the following best explains why the game of economics cannot
eliminate scarcity?

Which of the following best explains why the game of economics cannot eliminate scarcity-example-1
User Atcold
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1 Answer

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Answer: Option (B). No matter how much supply is produced, people’s demand will always increase to exceed supply.

Explanation: Economics believes it’s not possible, scarcity can never be eliminated in the game of economics because our infinite human wants will always outnumber the means available in this finite universe. Unlimited wants can never be satisfied because human wants are unlimited. Human wants and needs are infinite and the amount of resources to satisfy them are finite. Scarcity can only be reduced by the right choices but it can never be eliminated, all societies must deal with scarcity because there are limited resources and unlimited wants.

User JackWM
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