Question

Scarcity A. is the same thing in economic terminology as a shortage. B. results from unlimited resources coupled with limited wants. C. can be eliminated with improvements in technology. D. results from unlimited wants coupled with limited resources.

Answer 1

Answer: Option D

 

Explanation: In simple words, scarcity refers to the problem of unlimited wants of people that could be satisfied with the resources that are limited in nature.

Due to this scenario the people have to decide how they want to allocate the resources of their share.

Hence from the above we can conclude that the correct option is D.