Concept:The fundamental economic problem is scarcity: human wants are unlimited, but resources are limited.
Explanation:Economics problems arise in all societies because resources are scarce relative to the unlimited wants of human beings.
Since available resources cannot produce everything that people need and desire, every society must choose how to allocate these resources.
This forces individuals, firms, and governments to make choices and trade-offs daily.
The condition of scarcity is universal and exists in every nation, whether rich or poor.
It is not caused by poor leadership, inadequate planning, or the absence of economists.
Even with perfect management and planning, scarcity would still exist because resources are simply not in adequate supply.
Answer:The correct option is C: resource are not in adequate supply.