Question

review economic concepts 11. true or false scarcity exists because our supplies of productive resources are limited.

Explanation:

To determine if the statement is true or false, we recall the economic concept of scarcity. Scarcity in economics refers to the situation where human wants are unlimited, but the resources (productive resources like land, labor, capital, entrepreneurship) available to satisfy those wants are limited. So, since productive resources are limited and wants are infinite, scarcity exists. Thus, the statement is true.

Answer:

True