Question

We have unlimited wants but our resources such as time and money are limited. This concept is known as A. Scarcity B, Consumption C. Trade D. Currency

Answer 1

Since human wants are unlimited, and resources used to satisfy those wants are limited - there is scarcity. Even in the US, one of the richest countries in the world, there is scarcity -- if we use our new definition of SCARCITY.

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