Scarcity a affects only poor people bexists only during a re

Scarcity....

(a) affects only poor people (b)exists only during a recession (c) exists only in some countries (d)requires people to make choices (e)ensures that people become satisfied with less than they want

Solution

correct choice - (d)requires people to make choices

Our wants are unlimited but there are only so much resources in the world and not all can be fulfilled. This in a nutshell is scarcity.

a. affects only poor people - False. It can affect anyone. In a time of a natural calamity, even food, water etc can become scarce

b. exists during a recession - False, can occur anytime.

c. exists only in some countries - Can occur anywhere. Water scarcity is something which is a big risk for the world today.

d. requires people to make choices - True. If a product is scarce, its price will go up. People have the freedom whether to buy it at that price or not.

e. ensures that people become satisfied with less than they want - False. not necessarily true, what if the scarcity is of water, air or food. it can lead to unrest if scarcity is of an essential thing.