Question

Does the richest person in the world face the problem of​ scarcity? A. ​Yes, because even if you have money you will never be able to satisfy all of your wants and must therefore make choices. B. ​No, because having money means that you do not have to choose between present and future consumption. C. ​Yes, because if the rich were to purchase a lot of goods at one time shortages would result. D. ​No, because having money means that you can buy whatever you want to buy.

Answer 1

Answer:A. ​Yes, because even if you have money you will never be able to satisfy all of your wants and must therefore make choices.

Explanation:Scarcity refers to not having enough resources to fulfil your wants. Economist suggest that our wants exceeds what we have or what is available to us. A person who lives in a 4 bedroom house still wants to live in a 7 bedroom house , no matter what one has but they tend to want more than that and it never stops until the person themselves draw a line on what is it that they actual need and be satisfied with that otherwise scarcity affects everyone , even the richest people still yearn for something more than what they already have . There is always that one thing that is missing because our wants exceeds what is available to us.