which of these statements demonstrate the economic concept of scarcity? check all that apply.\nall useful…

which of these statements demonstrate the economic concept of scarcity? check all that apply.\nall useful resources are limited in their supply.\neveryone is able to meet all their wants and needs\nthe wants and needs of people are unlimited.\nresources are scarce, which explains why we are willing to pay for them.\na large economy is able to eliminate the effects of scarcity.\nbecause of scarcity, individuals must make choices.

which of these statements demonstrate the economic concept of scarcity? check all that apply.\nall useful resources are limited in their supply.\neveryone is able to meet all their wants and needs\nthe wants and needs of people are unlimited.\nresources are scarce, which explains why we are willing to pay for them.\na large economy is able to eliminate the effects of scarcity.\nbecause of scarcity, individuals must make choices.

Answer

Brief Explanations:

The economic concept of scarcity refers to the limited availability of resources relative to unlimited wants. Useful resources being limited in supply shows scarcity. People having unlimited wants and needs while resources are scarce is a core aspect of scarcity. The fact that resources are scarce and we pay for them is due to scarcity. Also, because of scarcity, individuals must make choices. Everyone being able to meet all wants and needs would mean no scarcity, and a large economy cannot eliminate scarcity.

Answer:

All useful resources are limited in their supply. The wants and needs of people are unlimited. Resources are scarce, which explains why we are willing to pay for them. Because of scarcity, individuals must make choices.