Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
Scarcity leads to the elimination of all wants
B
Scarcity forces individuals to prioritize needs over wants
C
Scarcity allows unlimited resource allocation
D
Scarcity only affects societal needs, not individual wants
Understanding the Answer
Let's break down why this is correct
Answer
Scarcity means that there are limited resources available to meet our unlimited needs and wants. When resources are scarce, individuals and society must make choices about how to use what they have. This leads to a clear distinction between needs, which are essential for survival like food and shelter, and wants, which are things we desire but can live without, such as the latest smartphone. For example, if a family has a limited budget, they might choose to buy groceries (a need) instead of going out to eat (a want). Therefore, the way resources are allocated affects how we prioritize these needs and wants, shaping our decisions and lifestyles.
Detailed Explanation
When resources are limited, people must choose what is most important. Other options are incorrect because Some might think scarcity means we can't have any wants at all; This option suggests that scarcity allows us to use resources freely.
Key Concepts
choice
allocation of resources
needs vs. wants
Topic
Understanding Scarcity
Difficulty
hard level question
Cognitive Level
understand
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