The
problem refers to the need to make choices because economic wants exceed economic means. (Enter one word in the blank.)

BlackTom题目解析

Question

The 
 problem refers to the need to make choices because economic wants exceed economic means. (Enter one word in the blank.)

BlackTom题目解析

BlackTom AI · Accepted Answer

The prompt asks: 'The ___ problem refers to the need to make choices because economic wants exceed economic means. (Enter one word in the blank.)' In economics, this blank is commonly filled with the term scarcity.

First, consider what scarcity means: it is the fundamental economic problem resulting from unlimited human wants in the face of limited resources. Since resources (like time, money, land, and labor) are finite, societies must make choices about how to allocate them. This is the essence of the 'scarcity problem.'

Next, why other related ideas might come to mind but are not as precise: 
- 'Shortage' refers to a temporary imbalance between supply and demand for a good, not the permanent condition that arises from limited resources and unlimited wants. 
- 'Poverty' describes a socioeconomic condition of not having enough resources for a basic standard of living, which is not the technical term for the fundamental economic problem described here. 
- 'Limitedness' is a descriptive phrase but is not the standard term used in economics to label the pervasive problem of wants versus means.

Because the question explicitly points to the persistent, universal condition created by the mismatch between wants and means, the appropriate term is the one that captures this core shortage of resources relative to desires. The blank should be filled with the single word that names this core concept.

Note: the provided data shows an answer of 'scarcity' but does not include any answer choices to evaluate. The reasoning above aligns with the standard economic definition of the problem described by the prompt.

The problem refers to the need to make choices because economic wants exceed economic means. (Enter one word in the blank.) BlackTom题目解析

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