Scarcity is best defined as a. unlimited resources b. a shortage -- when buyers

Question

Scarcity is best defined as

a.

unlimited resources

b.

a shortage -- when buyers cannot obtain the goods they want

c.

a surplus -- when sellers cannot sell the goods they produce

d.

insufficient resources to satisfy unlimited wants

e.

the private ownership of society's resources

a.

unlimited resources

b.

a shortage -- when buyers cannot obtain the goods they want

c.

a surplus -- when sellers cannot sell the goods they produce

d.

insufficient resources to satisfy unlimited wants

e.

the private ownership of society's resources

Explanation / Answer

insufficient resources to satisfy unlimited wants

insufficient resources to satisfy unlimited wants

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