Question

economics exists because people have unlimited wants but limited resources. in other words, there are not enough resources to meet all of peoples wants. this problem is called scarcity. which of the following things are true because of scarcity? select all that apply. people face trade - offs, or choices between things they want. people sometimes cant have as much of something as they want. people dont get any of the things they want. people have unlimited resources to use.

Explanation:

• When resources are limited (scarcity), people can't have everything they want. So, they have to make choices (trade - offs) between different wants. For example, if a person has a limited budget (a resource), they might have to choose between buying a new book (one want) or a new snack (another want).
• Also, because of scarcity, it's common that people can't have as much of a particular thing as they desire. For instance, there might be a limited supply of a popular toy, so a child can't have 100 of that toy.
• The statement "People don't get any of the things they want" is incorrect. Scarcity means not all wants are met, but some can still be satisfied. For example, a person with a limited food budget can still buy some food (satisfy the want for food to some extent), just not all the gourmet foods they might want.
• The statement "People have unlimited resources to use" is the opposite of what scarcity implies. Scarcity is defined by limited resources.

Answer:

People face trade - offs, or choices between things they want.
People sometimes can't have as much of something as they want.