GROWTH DEVELOPMENT CHILD
MASLOW HIERARCHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Scarcity in economics means that there are unlimiyed human need and limited resources. rish. 27 March 2018. scarcity refers to lack of desired quantity of something.
Detailed explanation-2: -The statement is false. The scarcity problem arises because our needs and wants are unlimited. While an increase in the productivity of our resources increases our capacity to produce more goods and services, it will still not be enough to satisfy all our needs and wants since our needs and wants are unlimited.
Detailed explanation-3: -Human wants are constant and infinite, but the resources to satisfy them are finite. The resources cannot exceed the amount of human and natural resources available. We produce things that we know people want, as long as we have the resources to make them.
Detailed explanation-4: -Human wants are unlimited. This means that they are never ending and can never be fully satisfied. Since wants keep on adding, all of them cannot be satisfied due to limited resources.