Answer :
The correct option is: (C) when one does not have enough resources to satisfy all of one’s wants
Explanation:
Scarcity in Economics is defined as the "unlimited wants and limited resources." If a someone's wants cannot be satisfied because of the limited resources, then it signifies the condition of scarcity. Hence in the options given the only option that satisfies this definition is option C.
Explanation:
Scarcity in Economics is defined as the "unlimited wants and limited resources." If a someone's wants cannot be satisfied because of the limited resources, then it signifies the condition of scarcity. Hence in the options given the only option that satisfies this definition is option C.