Scarcity Is

question 95

Multiple Choice

Scarcity is:

• A)a fact of life.
• B)not a problem for Bill Gates because he is a billionaire.
• C)can be eliminated by rational decision making.
• D)is a problem studied in microeconomics but is not a macroeconomic concern.

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Definitions:

Independence

The state or quality of being self-reliant and free from external control or support.

On Demand

A service or system that provides goods, services, or media available to consumers as soon as they request it, often via digital means.

Physiological Impact

The effect or change on the physical and biological functions of a body as a result of various factors, including stress, environment, or disease.

Colic

A condition characterized by episodes of significant distress or crying in a healthy baby with no apparent cause.