Scarcity is the condition of not being able to have all of the goods and services that one wants. It exists because human wants for goods and services exceed the quantity of goods and services that can be produced using all available resources. Scarcity is experienced by individuals, governments, and societies.
Standard detail
1.
Benchmark
Depth 1Parent ID: 598B3B66A3CE4F55B5D291A7EDB895D3Standard set: Grades 5, 6, 7, 8
Original statement
Quick facts
- Statement code
- 1.
- List ID
- 1.
- Standard ID
- 5F1B29A61896418C8461CD4365828233
- ASN identifier
- S2604658
- Subject
- Economics
- Grades
- 05, 06, 07, 08
- Ancestor IDs
- 598B3B66A3CE4F55B5D291A7EDB895D3
- Source document
- Voluntary National Content Standards in Economics (2010)
- License
- CC BY 3.0 US