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In economics, the term scarcity refers to:

A. the financial risks involved with starting a new business.

B. having more wants than available resources to fulfill them.

C. increasing the value of an asset by allowing it to grow over time.

D. borrowing more money than you can afford to pay back.

Respuesta :

okpalawalter8

In economics, the term scarcity refers to having more wants than available resources to fulfill them. Option B. This is further explained below.

What is economics?

Generally, economics is simply defined as the study of how money is made, spent, and transferred. Scarcity, the problem of meeting limitless demands and needs with finite means, is central to the study of economics.

In conclusion,  Scarcity in economics refers to the fact that there are more desires than resources to satisfy them.

Scarcity in a bid to throw more light on it seeks to reveal the insufficiency in resources to achieve required goals in an economy.

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