Question

The law of Scarcity
(a) Does not apply to rich, developed countries
(b) Does not apply to poor, under developed countries
(c) Implies only to socialist economies
(d) Implies that all consumer wants will never be completely satisfied

Answer 1

i think its d option

Answer 2

The law of scarcity simply notes that economic resources — land, labor, capital, and talent — are limited, not infinite. This assumption is easily verifiable by noting that if resources had been infinite, everything should have been free; because it is not, scarcity must exist. plz mark on brain list and follow me