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Scarcity: Central Economic Problem

APMICR-98XWYR

All economic systems face the central economic problem of scarcity. This means that in these economic systems

A

the quantity supplied often exceeds the quantity demanded.

B

the quantity demanded often exceeds the quantity supplied.

C

resources are insufficient to satisfy all wants.

D

resources exceed the amount needed to produce the goods that are wanted.

E

the amount of available resources is limited.