Which of the following statements best describes the study of
Scarcity exists because: (Points : 10) a. human wants exceed the resources available to satisfy them.b. some individuals have low income.c. the costs of production are high.d. some people make bad economic decisionse. people take too much leisure time. 2. Which of the following statements best describes the study of economics? Economics studies how: (Points : 10) a. to organize production so that scarcity does not occur.b. […]