Question

multiple choice question
because the world is characterized by scarcity, people must choose between different uses for the resources at their disposal. in economics, we refer to this as
○ common resources.
○ spending resources.
○ exhausting resources.
○ allocating resources.
meet help? review these concept resources.

Explanation:

Scarcity means resources are limited relative to wants, so people must decide how to assign limited resources to competing uses. This act of choosing resource uses is defined as allocating resources. The other options do not fit: common resources are a type of resource, spending refers to using resources on consumption, and exhausting means using resources up entirely, which is not the act of choosing uses.

Answer:

O allocating resources.