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Which of the following statements best describes the economic concept of scarcity? A) Too many frivolous goods and services are produced at the expense of

Which of the following statements best describes the economic concept of scarcity?

A)

Too many frivolous goods and services are produced at the expense of socially desirable goods and services.

B)

Society is not employing all of its available resources in an efficient manner.

C)

People's wants can never be satisfied by the available resources.

D)

Production is efficient, but distribution is inefficient.

E)

Scarcity afflicts only poor countries.

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