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The basic economic problem is that we only have so many resources, but we have a never-
ending list or wants. Select one: True False
Solution
Statement is True.
Scarcity arises when our (ever increasing) needs and demands cannot be fulfilled using existing
resources, even if there are many resources available. And Economics study scarcity.

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The basic economic problem is that we only have so many resources, b.pdf

  • 1. The basic economic problem is that we only have so many resources, but we have a never- ending list or wants. Select one: True False Solution Statement is True. Scarcity arises when our (ever increasing) needs and demands cannot be fulfilled using existing resources, even if there are many resources available. And Economics study scarcity.