Asked by
Nakaya Frazier
on Oct 13, 2024
Verified
The statement "By the time our grandchildren are born,scarcity will not be a problem" is
A) possible only if technology advances at a great pace.
B) true,because we will learn to limit our wants in the future.
C) true,because by that time everyone's basic needs will be met.
D) false,because people always want more than there is available.
Scarcity
The primary economic challenge is the existence of boundless human demands and necessities within a finite supply of resources.
Technology Advances
Progressive developments and improvements in technology that enhance productivity, efficiency, and the quality of goods and services.
- Acquire knowledge on how finite resources and endless demands drive the need for making economically prudent choices.
Verified Answer
JG
Learning Objectives
- Acquire knowledge on how finite resources and endless demands drive the need for making economically prudent choices.