Which of the Following Is Not an Example of Scarcity

question 270

Multiple Choice

Which of the following is not an example of scarcity?

• A) Only some people can afford to buy a Ferrari.
• B) Every individual in society cannot attain the highest standard of living to which he or she might aspire.
• C) Doug has an unlimited supply of apples in his orchard.
• D) Each member of a household cannot get everything he or she wants.

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Definitions:

Market Analysis

The assessment of a given market to understand its size, trends, growth potential, and competitive landscape, often used to inform business strategies and decisions.

Qualitative Data

Information that cannot be measured with numbers, often related to descriptions, qualities, or opinions.

Probing Questions

Questions designed to elicit more detailed and in-depth responses from a conversation or interview partner.

Secondary Data

Marketing data that have been gathered, tabulated, and made available by an outside source.