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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.1
Scarcity is best defined as?
Overabundance of resources and limited wants
Limited availability of resources relative to unlimited wants and needs
Equal availability of resources and wants
Abundance of resources and wants
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AP Microeconomics - 1.1 Basic Economic Concepts: Scarcity
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Scarcity
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About Fiveable
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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