The fundamental economic problem of scarcity arises from The fact that society has more than it needs The unequal distribution of income. Competition in the market for goods and services. Our wants exceeding our scarce resources.

The fundamental economic problem of scarcity arises from The fact that society has more than it needs The unequal distribution of income. Competition in the market for goods and services. Our wants exceeding our scarce resources.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter1: What Economics Is About

Section: Chapter Questions

Problem 1QP

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The fundamental economic problem of scarcity arises from
The fact that society has more than it needs
The unequal distribution of income.
Competition in the market for goods and services.
Our wants exceeding our scarce resources.

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