Question

1. the problem of resources being limited, but wants being unlimited is the economic concept of ______○ supply○ opportunity cost○ scarcity○ economy of scale

Explanation:

This is a core economics concept: when available resources are finite, but human wants and needs are unlimited, this fundamental tension is defined as scarcity. Supply refers to the amount of a good available; opportunity cost is the value of the next best alternative foregone; economy of scale refers to cost savings from increased production. None of these match the given definition except scarcity.

Answer:

○ scarcity