Resources and Scarcity

Question 1

What issue results from the combination of limited resources and unlimited wants?

Revolt · Accepted Answer

scarcity

Question 2

Which concepts are addressed in your answer? Check all that apply

Revolt · Accepted Answer

the idea that scarce resources are more valuable

Question 3

employment items✔ services

Revolt · Accepted Answer

✔ services; Resources are things people use to make goods and provide.: services; The resources used to create goods and services are divided into three main categories: land, labor, and.: capital

Question 4

✔ capital production scarcity

Revolt · Accepted Answer

✔ capital

Question 5

renewable✔ limited unlimited

Revolt · Accepted Answer

✔ limited; According to the rules of economics, all resources arein their supply. The wants and needs of people are.: limited; According to the rules of economics, all resources arein their supply. The wants and needs of people are.: unlimited; The more scarce a resource is, the people are willing to pay for it. The principle of scarcity forces people to.: more; The more scarce a resource is, the people are willing to pay for it. The principle of scarcity forces people to.: make choices

Question 6

nonrenewable limited✔ unlimited

Revolt · Accepted Answer

✔ unlimited

Question 7

✔ more less fewer

Revolt · Accepted Answer

✔ more

Question 8

borrow things ✔ make choices sell goods

Revolt · Accepted Answer

✔ make choices

Resources and Scarcity Answers

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