Which one of the following statements about the scarcity problem is correct? a. the scarcity problem persists because economic wants exceed available productive resources. b. the scarcity problem has been solved in all industrialized nations. c. the scarcity problem persists only because countries have failed to achieve continuous full employment. d. the scarcity problem has been eliminated in affluent societies such as the united states and canada.

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.