A. ownership of resources
B. scarcity of resources
C. method of decision making
D. motivation for production
Correct Answer: Option B
B. scarcity of resources
Explanation
Economic systems are the means by which countries and governments distribute resources and trade goods and services. They are used to control the five factors of production, including: labor, capital, entrepreneurs, physical resources and information resources. An economic system is a system of production, resource allocation, exchange and distribution of goods and services in a society or a given geographic area.
