Economics WAEC

Scarcity in Economics means that resources?

A. Are not enough to share among producers of goods and services
B. Needed to satisfy human wants are limited
C. Are never enough to share among consumers of goods and services
D. Required to meet our essential wants are unlimited
E. Can be managed if those who use them can behave rationally

Correct Answer:

Option B – Needed to satisfy human wants are limited

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