A Resource Is Not Scarce If

question 142

Multiple Choice

A resource is not scarce if

• A)there is more of it than people want.
• B)it can be found in any store.
• C)people have enough money to pay for it.
• D)it has a low opportunity cost.
• E)its supply exceeds its demand.

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Definitions:

Zeigarnik Effect

A tendency to experience automatic, intrusive thoughts about a goal whose pursuit has been interrupted.

Temporal Discounting

The tendency to value immediate rewards more highly than future rewards, affecting decision-making and impulse control.

Delay Gratification

The capacity to withstand the lure of an instant gratification in favor of a future, potentially more significant, reward.

Pocket Money

Typically refers to a small amount of money given by parents to their children on a regular basis to spend as they wish.