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Which of the following best explains why the game of economics cannot eliminate scarcity?

  • Question 8a of 25 - Scarcity

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following best explains why the game of economics cannot eliminate scarcity?
  • Answers:
  1. Human intellectual capacities are too limited to allow them to make rational allocation decisions.
  2. Technology has not advanced far enough to create fully efficient systems of production and distribution.
  3. The population of the Earth has grown too large to be sustained by the available natural resources.
  4. No matter how much supply is produced, people's demands will always increase to exceed supply.

The correct answer is: No matter how much supply is produced, people's demands will always increase to exceed supply. No matter how much is produced, people will always want more.

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