Which of the following describe the effects of scarcity?
Businesses can only make a limited number of goods and services.
People have limited wants.
Not everyone's needs are met.
Using scarce resources today means having fewer tomorrow.
Those that describe the effects of scarcity are: - Businesses can only make a limited number of goods and services. - Not everyone's needs are met. - Using scarce resources today means having fewer tomorrow.
Having scarcer materials does not mean that people have limited wants, but that people get less of what they want.
