Goods and services are scarce because: a. they are produced using scarce resources. b. they are produced by firms that seek profits. c. firms keep production low in order to earn higher profits. d. the government wants to maintain its power over the economy. e. people are greedy.

Scarcity is the basic economic problem by which people have unlimited needs but rely on limited resources to fulfill them. Scarcity pushes individuals and organizations to allocate their resources efficiently to maximize their benefits. Trade-offs are the results of scarcity since people must give up on the satisfaction of part of some of their needs so others can be fulfilled.

Goods and services are scarce because: a. ​they are produced using scarce resources. b. ​they are produced by firms that seek profits. c. ​firms keep production low in order to earn higher profits. d. ​the government wants to maintain its power over the economy. e. ​people are greedy.

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Goods and services are scarce because: a. they are produced using scarce resources. b. they are produced by firms that seek profits. c. firms keep production low in order to earn higher profits. d. the government wants to maintain its power over the economy. e. people are greedy.