Concept:Scarcity is the fundamental economic problem of having limited resources to satisfy unlimited human wants.
Explanation:In economics, resources are not absolutely scarce; they are scarce relative to the many wants people have.
Human wants are numerous and unlimited, but the resources needed to produce goods and services are limited.
Therefore, scarcity arises when limited resources cannot satisfy all wants at the same time.
This forces society to make choices and allocate resources efficiently.
Option D best describes this idea: resources are limited in relation to wants.
Answer:D. resources are limited in relation to wants.