Which of the following statements best describes scarcity? a. Production is efficient, but distribution is inefficient. b. Available resources can never satisfy people's wants. c. Society is not employing all of its available resources in an efficient manner. d. Scarcity afflicts only poor countries. e. Too many frivolous goods and services are produced at the expense of socially desirable goods and services.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Q92

Which of the following statements best describes scarcity?
a.
Production is efficient, but distribution is inefficient.
b.
Available resources can never satisfy people's wants.
c.
Society is not employing all of its available resources in an efficient manner.
d.
Scarcity afflicts only poor countries.
e.
Too many frivolous goods and services are produced at the expense of socially desirable goods and services.
Clear my choice
 
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