Scarcity of resources means

resources are not available at allCorrect answerYour answerresources are found only in poor countriesCorrect answerYour answerresources cannot be used for productionCorrect answerYour answerresources are limited compared with the wants they could satisfyCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer D

Correct answer: D

Scarcity is relative: there is not enough to satisfy every want, though resources exist.

Worth noting

Scarce does not mean absent; even a rich country faces scarcity.

Concept: Meaning of scarcity
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsScarcity and the central problems

Practise this chapter →

Ten questions from Central Problems & the PPC, at your own pace.

Practise this chapter →

Ten questions from Central Problems & the PPC, at your own pace.

Practise this chapter All 87 questions in Central Problems & the PPC Revise the notes for Central Problems & the PPC

Scarcity of resources means

Explanation