Which of the Following Statements Is TRUE About Scarcity

question 206

Multiple Choice

Which of the following statements is TRUE about scarcity?

• A) Both rich and poor people face the problem of scarcity.
• B) Scarcity exists only when supply is insufficient to meet demand.
• C) Scarcity exists only when a shortage exists.
• D) Scarcity can be eliminated when a country becomes richer.

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Definitions:

Hendrick ter Brugghen

A Dutch Golden Age painter known for his Caravaggisti style, characterized by the use of strong chiaroscuro and emotional intensity in religious subjects and genre scenes.

Calling of Saint Matthew

A famous painting by Caravaggio that depicts the moment Jesus Christ inspires Matthew to follow him, highlighting Caravaggio’s mastery of light and shadow.

Caravaggio

Italian painter of the late 16th and early 17th centuries, known for his dramatic use of light and shadow.

Jan Steen

A Dutch Golden Age painter, well-known for his paintings of lively and chaotic domestic scenes.