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Question
if all the worlds resources were to magically increase 100 fold, then
the scarcity principle would still govern behavior.
economics would no longer be relevant.
the scarcity principle would disappear.
everyone would be satisfied.
tradeoffs would become unnecessary.
The scarcity principle states that resources are limited relative to unlimited wants. Even if resources increase 100 - fold, human wants are also likely to expand (e.g., new desires for more advanced goods, services, or experiences). So the scarcity principle still governs behavior. The other options are incorrect: economics would still be relevant as choices would still need to be made; scarcity principle wouldn't disappear due to expanding wants; not everyone would be satisfied as wants are unlimited; trade - offs would still be necessary as resources, though more, are still finite relative to wants.
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the scarcity principle would still govern behavior.