Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
A → B → C → D
B
B → A → D → C
C
A → D → B → C
D
B → C → A → D
Understanding the Answer
Let's break down why this is correct
Answer
Understanding scarcity starts with recognizing that people have unlimited wants, meaning there are always more things we desire than what we can have. Next, we assess the resources available to us, such as time, money, and materials, which are limited. After understanding our resources, we need to prioritize our needs and desires to decide what is most important to us. Finally, we make choices about how to allocate our limited resources to fulfill those prioritized wants. For example, if someone has a limited budget, they might choose to buy food and pay rent first before considering entertainment options.
Detailed Explanation
First, we recognize that people have many wants. Other options are incorrect because This option suggests we start with resources; This option puts prioritizing before assessing resources.
Key Concepts
Scarcity
Resource Allocation
Economic Decision-Making
Topic
Understanding Scarcity
Difficulty
easy level question
Cognitive Level
understand
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