Which situation best illustrates the concept of scarcity? a class designing and selling calendars a cook learning to be an executive chef a friend buying a copy of a popular DVD a person buying a used car due to limited income

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Kolton Mcknight

Today, 15:08

Which situation best illustrates the concept of scarcity? a class designing and selling calendars a cook learning to be an executive chef a friend buying a copy of a popular DVD a person buying a used car due to limited income

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Jamir Reed · Answer 1

Scarcity in economics is a result of people always wanting for something new but having limited resources to satisfy or fulfill it.

An example of scarcity - - when a person would have wanted a new car but due to limited income, he can not buy it. He bought a used car instead.

Braeden Atkinson · Answer 2

a person buying a used car due to limited income

Explanation:

took test