Asked by Daniel Alvarez on Jun 30, 2024
Verified
Resources are unlimited in a wealthy society.
Unlimited Resources
A hypothetical scenario in which all resources are abundant and easily accessible, eliminating scarcity.
Wealthy Society
A society characterized by a high level of economic riches, lifestyle quality, and available resources for its members.
- Recognize the principle of scarcity and its consequences for opportunity costs and the distribution of resources.
Verified Answer
NM
Nanuvala ManideepikaJul 06, 2024
Final Answer :
False
Explanation :
Even in wealthy societies, resources are limited as they cannot meet the unlimited wants and needs of individuals.
Learning Objectives
- Recognize the principle of scarcity and its consequences for opportunity costs and the distribution of resources.