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Question 9 (3 points) Which of the following is not subject to scarcity? water steel o o diamonds ( land O none of the above
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Answer #1

Since scarcity means limited availability of any resources in relation to its demand.

Hence it can be said that scarcity refers to the inability of the society to satisfy all human wants because of limited resources.

In this world every goods are scarce in relation to demand, water, land, diamond and steel are scarce in relation to its availability.

Hence it can be said that none of the above are the correct answer.

Hence option fifth is the correct answer.

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