Question

core: 0 of 3 pts Concept Question 1.14 Which of the following best demonstrates the concept of scarcity? O A. Michael has enough money to buy a CD or a book, but not both. O B. Grocery stores sometimes limit the number of sale items that you can buy ° C. During a blizzard, the hardware store sells out of shovels and cannot get more this week. O D. During World War II, butter and meat were rationed Click to select your answer and then click Check Ansver All parts showing

Answer 1

Option A

Scarcity of resources represents an economic problem of shortage of resources to satisfy given wants at a time. When money is limited, only certain units of all the goods can be consumed but not all.