The fundamental economic problem facing all societies is scarcity. What does scarcity imply?

The correct answer to the question "The fundamental economic problem facing all societies is scarcity. What does scarcity imply?" is Option C: That human wants for goods, services, and resources exceed what is available.

The other options — A) That all wants can eventually be satisfied, B) That resources are unlimited, but wants are limited, D) That only wealthy nations experience economic problems — are incorrect for this GED Exam Prep question. As explained above: Scarcity is the basic economic problem that arises because human wants are virtually unlimited, while the resources available to satisfy those wants are limited. This forces choices and tradeoffs.