Question

No matter what good or service we look at, the supplies of land, labor, and capital used to produce it are scarce. True or False

Answer 1

When it comes to the production of a good or service, the supplies of land, labor, and capital used to produce it are scarce so this is TRUE.

Why are resources scarce?

Resources are considered to be scarce because there are several things that we can do with them but yet we decide to focus on producing a single good or service.

This means that regardless of the good or service, the resources to produce it are scarce as they could be used for other things.

Find out more on the scarcity of resources at brainly.com/question/3081250

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