Which of the Following Is a Not Direct Result of Scarcity

question 17

Multiple Choice

Which of the following is a not direct result of scarcity?

• A) Buildings in New York City are taller than buildings in Greenville, SC due to fewer acres of land per person.
• B) Due to high gas prices, Shana decides to trade her Chevy Tahoe for a Honda Accord.
• C) A college student misses a test review in order to sleep in.
• D) The total amount of air we can breathe as others draw breaths from that same air space.

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Definitions:

Amount Owed

The total money that is due to be paid to a lender or creditor by the borrower.

Accounting Equation

The fundamental principle of accounting that states assets are equal to the sum of liabilities and owner's equity.

Creditor

An individual or institution to whom money is owed by the debtor or the borrower.

Cash Investment

Cash investment refers to funds invested into a business or market with the expectation of generating a financial return.