Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

peoples infinite needs and wants compared to limited resources: limits …

Question

peoples infinite needs and wants compared to limited resources: limits to land, labor, and capital
economics
export
equilibrium
scarcity

Explanation:

Brief Explanations

The question is about the concept of people's infinite needs and wants compared to limited resources (land, labor, capital). Economics is a broad field. Export refers to sending goods/services abroad. Equilibrium is a state of balance. Scarcity specifically addresses the situation where resources (like land, labor, capital) are limited relative to unlimited needs and wants.

Answer:

Scarcity