Economics 9708 · AS & A Level · Scarcity, choice and opportunity cost

Scarcity, choice and opportunity cost — practice question

Why does the basic economic problem of scarcity apply to people who are wealthy as well as those who are not?

  • AThe choices people make are not dependent on income inequalities.
  • BConsumers pay the same prices for goods and services to satisfy their wants.
  • CHuman wants exceed what can be produced from available resources.
  • DNatural resources are unevenly distributed amongst nations.

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