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Which of the following describes a situation of scarcity?

  • Question 3c of 10 - Supply and demand

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following describes a situation of scarcity?
  • Answers:
  1. A person lets the kids in the neighborhood use his pool.
  2. Someone distributes free bottles of water at the beach.
  3. Someone offers free advice about getting into college.
  4. A child charges friends for a ride on his new bike.

The correct answer is: A child charges friends for a ride on his new bike. Anything with a price is assumed to be scarce.

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