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 more oranges in her orchard than she will ever use.
D)Each member of a household cannot get everything he or she wants.

Question

Quizplus · Accepted Answer

Scarcity refers to the limited availability of resources in comparison to the unlimited wants and needs of people. Option C states that Miranda has more oranges than she will ever use, which means there is no scarcity in this situation. However, options A, B, and D all describe situations where people have limited access to resources or cannot attain everything they want, indicating scarcity.

Which of the Following Is Not an Example of Scarcity