Even though some countries, such as the United States, have large amounts of resources, economists still...

Even though some countries, such as the United States, have large amounts of resources, economists still regards resources as "scarce." The reasoning behind this concept of scarcity is that, no matter how many resources a country has, it is always the case that

Question 11 options:

	its resources are limited, whereas its wants and needs are relatively unlimited.
	government is too big, and business is too small.
	its resources are limited, but its wants and needs are even more limited.
	there is never enough money.

Solutions

Expert Solution

The resources are scarce and should be utilized in the best effective manner.

Rahul Sunny answered 1 year ago

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