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17 carcity exists because of: O A. the market mechanism. OB. specialization and division of labor OC. the allocation of goods by prices O D. unlimited wants and limited resources.
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Scarecity exists because of : ans. (D) unlimited wants and limited resources.

The scarecity arises because people's want is unlimited but the resources in the economy is limited. As our want is unlimited and resources are not unlimited and there is always a restriction and limitation of resources so we can not fulfill our all requirements and wants. As there is limitation of resources and people have unlimited wants so there arises scarecity. We can not fulfill our wants with limited resources. For this reason there arises scarecity.

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