Which of the following statements explains why the textbook author focuses on coordination rather than on scarcity when defining economics?

multiple choice

Coordination involves cooperation while scarcity involves coercion, which is inherent to all known economies.

Wants are changeable and partially determined by society, and the degree of scarcity changes as the quantity of goods, services, and usable resources changes with technology and human action that underlie production.

Coordination is objective while scarcity is relative.

Scarcity is not a problem for industrial economies while coordination is a problem for all known economies.