Goods and services are scarce because: a. they are produced using scarce resources. b. they are produced by firms that seek profits. c. firms keep production low in order to earn higher profits. d. the government wants to maintain its power over the economy. e. people are greedy.

The correct answer is letter "A": they are produced using scarce resources.

Explanation:

Scarcity is the basic economic problem by which people have unlimited needs but rely on limited resources to fulfill them. Scarcity pushes individuals and organizations to allocate their resources efficiently to maximize their benefits. Trade-offs are the results of scarcity since people must give up on the satisfaction of part of some of their needs so others can be fulfilled.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

government control and resources