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  • Social Studies: Economics Online Quiz
  • When there is limited resources, but unlimited wants.
Multiple choice

When there is limited resources, but unlimited wants.

  1. Economics

  2. Scarcity

  3. Market Economy

  4. Assembly Line

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Scarcity is the fundamental economic problem of having seemingly unlimited human wants in a world with limited resources. Because resources are scarce, society must make choices about how to allocate them efficiently.

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