Question

Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal conditions. The assumptions are that more output will satisfy more wants and _________.a. there are limited wants.
b. the world has limited productive resources.
c. the world has unlimited productive resources.

Answer 1

Answer:

Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal conditions. The assumptions are that more output will satisfy more wants and the world has limited productive resources

Explanation:

Due to the fact that there is high demand in market and there is limited productive resources which in turns affect the demand, hence; causing scarcity