Which of these statements demonstrate the economic concept of scarcity? Check at that apply. All useful resources are limited in their supply. Everyone is able to meet all their wants and needs The wants and needs of people are unlimited. Resources are scarce, which explains why we are willing to pay for them. Alarge economy is able to eliminate the effects of scarcty Because of scarrity, individuals must make choices.

The statements that demonstrate the economic concept of scarcity are:<br /><br />1. All useful resources are limited in their supply.<br />2. The wants and needs of people are unlimited.<br />3. Resources are scarce, which explains why we are willing to pay for them.<br />4. Because of scarcity, individuals must make choices.<br /><br />These statements reflect the fundamental idea that resources are limited while human wants and needs are unlimited, leading to the necessity of making choices about how to allocate resources efficiently.