Q1. The fundamental concept of Economics about resources is that the resources are (A) equally distributed (B) unequally distributed (C) scarce (D) unlimited $1. Ans. (C) scarce Q2. Consider a world without scarcity of resources. Then what would be the consequences? (A) All prices would be zero (B) Markets would be unnecessary (C) Economics would no longer be a useful subject (D) All of the above S2. Ans. (D) All of the above