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Which of these statements describes scarcity?

AIt is a situation in which people cannot pay for goods and services.
BIt is an economic situation where the government has to import items.
CIt is the difference between limited resources and wants and needs.

Verified Answer :

kmatras1

The correct answer is c.

Scarcity means that there is a lack of something. So, limited resources would suffice the idea of lacking something, especially compared to the higher wants and needs of the people.

Answer:

C -- It is the difference between limited resources and wants and needs.

Step-by-step explanation:

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