Scarcity Is

question 391

Multiple Choice

Scarcity is

• A) when a child wants a $1.00 can of soda and two 50¢ packs of gum and has $2.00 in her pocket.
• B) our inability to satisfy all our wants.
• C) an economic problem only for poor people.
• D) a situation that exists during economic recessions but not during economic booms.

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Definitions:

Sales Revenues

The total amount of money generated from sales of goods or services before any expenses are subtracted.

Prescription Medicine

drugs that legally require a medical prescription to be dispensed.

Comparative Bar Graph

Two bar graphs combined on one grid, to compare two different sets of comparable data.

Quarterly Revenues

The total income generated by a company during a three-month period from its business activities.