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not an example of scarcity

Sagot :

Answer:

Which of the following is not an example of scarcity? a) Only some people can afford to buy a BMW...

Question:

Which of the following is not an example of scarcity?

a) Only some people can afford to buy a BMW automobile,

b) Every individual in society cannot attain the highest standard of living to which he or she might aspire,

c) Miranda has an unlimited supply of oranges in her orchard,

d) Each member of a household cannot get everything he or she wants.

Scarcity

Scarcity, in simpler words, is the shortage of resources or any goods and services in the economy. The questions 'what to produce', 'how to produce,' and 'for whom to produce' arises in the economic studies because of the scarcity of resources. The value assigned to any good or service in the form of the price is also a result of its scarcity.

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