The basic economic condition that exists when unlimited wants exceed limited productive resources is called
a) capital.
b) scarcity.
c) hyper inflation.
d) opportunity cost.

The correct answer is B) scarcity.

The basic economic condition that exists when unlimited wants exceed limited productive resources is called scarcity.

We are talking about terms in economics. This is one phenomenon that occurs in market economies. There is only a limited number of products or services available and many consumers wishing to buy them. That is when scarcity occurs and makes products harder to find and they have higher prices.

by 1890, the united states had by far the world's most productive economy. american industry produced twice as much as its closest competitor--britain. but the united states was not a great military or diplomatic power. its army numbered less than 30,000 troops, and its navy had only about 10,000 seamen. britain's army was five times the size of its american counterpart, and its navy was ten times bigger. the united states' military was small because the country was situated between two large oceans and was surrounded by weak or friendly nations. it faced no serious military threats and had little interest in asserting military power overseas.

i believe your answer is d)