Which of the following is not an example of scarcity?
A) Only some people can afford to buy a Ferrari.
B) Every individual in society cannot attain the highest standard of living to which he or she might aspire.
C) Doug has an unlimited supply of apples in his orchard.
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 compared to the unlimited wants and needs of society. Choice C states that Doug has an unlimited supply of apples, which does not align with the concept of scarcity. Choices A, B, and D all illustrate examples of scarcity, where there are limited resources and not everyone can have everything they want or need.

Which of the Following Is Not an Example of Scarcity