Economics WAEC

Scarcity in Economics means that?

A. the economy can scarcely produce anything
B. human wants are limitless
C. the economy has very few resources
D. human wants are limited, relative to resources
E. resources are limited relative to wants

Correct Answer:

Option E – resources are limited relative to wants

AddThis Website Tools
Sunday

Share
Published by
Sunday
Tags: economics

Recent Posts

EME 401 Theory Questions: Politics In Educational Planning

400 Level Social & Political Context of Education Planning and Administration Practice exam questions and detailed…

6 hours ago

EME 401 Theory Questions: Socialisation – Social Context Of Educational Planning

400 Level Social & Political Context of Education Planning and Administration Practice exam questions and detailed…

6 hours ago

EME 401 Theory Questions: Equality In Education

400 Level Social & Political Context of Education Planning and Administration Practice exam questions and detailed…

9 hours ago

EME 401 Theory Questions: Society And Socio-Political Factors

400 Level Social & Political Context of Education Planning and Administration Practice exam questions and detailed…

9 hours ago

EME 401 Theory Questions: Nigerian Education Policy

300 Level Research Methods In Education Practice exam questions and detailed answers. Download the answers in…

10 hours ago

EME 312 Theory Questions: Performance Evaluation

300 Level Research Methods In Education Practice exam questions and detailed answers. Download the answers in…

10 hours ago