Question

Scarcity exists because: Multiple Choice individuals cannot solve the three central coordination problems. new wants continue to develop and willingness to meet them is limited. the supply of goods is always less than the demand. governments cannot solve the three central coordination problems.

Answer 1

Answer:

new wants continue to develop and willingness to meet them is limited.

Explanation:

In economics, scarcity refers to not being able to satisfy the total demand for goods and services. Everything is scarce, specially time (also capital, labor, technology), and economic agents must allocate resources that yield the highest benefits to them. The demand for goods and services is virtually unlimited, but if you can earn a higher profit from selling certain good X than selling good Y, you will sell good X and the consumers' demand for good Y will be unsatisfied.