In a world of scarcity, we will never: a

Economics Dec 08, 2020

In a world of scarcity, we will never:

a. satisfy all basic human needs.

b. use all economic resources such that we satisfy the maximum amount of wants.

c. meet all of society's wants.

d. stray from economic efficiency.

Expert Solution

Option C - meet all of society's wants

In a world of scarcity, we will never meet all of society's wants. It is because 'want' is something which has no end. Thus, in a world of scarcity, it might be possible that 'need' of society can be fulfilled, but 'want' is something which is difficult to fulfil.

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