Practicing Success
“Scarcity of resources exist only at the macro level”. Which of the following is true in regards to the above statement? |
The statement is true The statement is false The statement can be true or it can be false Insufficient information |
The statement is false |
The scarcity of resources can exist at both micro or macro level. Unlimited wants of individual accompanied by scarce resources put to different uses results in problem of choice in the economy. |