Scarcity is BEST defined as when:. a. unlimited wants exceed limited resources. b. the quantity demanded exceeds the quantity supplied. c. the quantity supplied exceeds the quantity demanded. d. unlimited resources exceed limited wants.

a. unlimited wants exceed limited resources.

Explanation:

Scarcity is a situation of having few resources to cater to many needs. The available resources such as finances, labor, land, and time cannot satisfy the need of a community. Due to scarcity, communities have to make choices on what needs to address at every moment.

Choices mean some sacrifices have to be made to fulfill certain needs. Human beings have unlimited needs. The available resources cannot meet all the needs in society. The existence of very may needs, and few limited resources give rise to scarcity.

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