Question

The basic economic problem of scarcity
Question 1 options:

A)

does not apply to the wealthy in society.

B)

is a problem only in developing economies.

C)

has always existed and will continue to exist.

D)

will eventually disappear as technology continues to advance.

Answer 1

Answer:

C. Has Always Existed and will continue to exist.

Explanation:

Scarcity is still present. More goods and services are created today than ever before, yet the increase in wants exceeds the increase in economic capabilities. People continue to seek more items than the available resources can produce.

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Answer 2

Answer:

D)

will eventually disappear as technology continues to advance.

Explanation:The basic economic problem of scarcity reduces cos of the development of society's technology

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