Which statement is CORRECT?

A) Resource scarcity is not a major concern in the rich countries of the world.
B) Most opportunity costs are zero.
C) An economic situation is in equilibrium when no individual would be better off taking a different action.
D) Some very talented,skilled individuals who can do everything better than most people should not specialize in doing any one thing.

Resource Scarcity

The limited availability of natural resources, leading to constraints on production, consumption, and the ability to meet human needs and desires.

Opportunity Costs

The loss incurred by dismissing the subsequent preferable option in the course of decision-making or selecting one possibility over another.

Equilibrium

Equilibrium is a state in economics where market supply and demand balance each other, and as a result, prices become stable.