Because of scarcity: question 1 options: a) we face tradeoffs in nearly every choice we make. b) choices are unlimited. c) wants are limited. d) resources are limitless.

a) Because of Scarcity :- we face tradeoffs in nearly every choice we make

Explanation:

Scarcity is the shortage of supply with comparison to demand.

Scarcity : Demand > Supply

Scarcity leads to trade off for each choice made, as each choice made has opportunity cost i.e something sacrifised to attain that choice.

This happens because scarcity arises out of - unlimited wants & limited resources having alternative uses.

Eg: Resources = Money Income, spending options = Food, Drinks.

If one chooses to eat a unit food, its opportunity cost i.e drinking beverages is traded off for that unit food eaten.