Which of the Following Statements Is True About Scarcity

question 323

Multiple Choice

Which of the following statements is true about scarcity?

• A) Scarcity refers to the situation in which unlimited wants exceed limited resources.
• B) Scarcity is not a problem for the wealthy.
• C) Scarcity is only a problem when a country has too large a population.
• D) Scarcity arises when there is a wide disparity in income distribution.

Understand the individual qualities and psychological needs that influence the tendency to affiliate and join groups.

Apply social exchange theory to explain the dynamics of group inclusion and membership decisions.

Distinguish between similarity and complementarity principles and their roles in group formation.

Apply the elaboration principle to illustrate the expansion of personal friendship networks.

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Definitions:

Farming

The practice of cultivating land, raising crops, and sometimes raising livestock for food, fiber, and other products.

Amazon River

One of the largest rivers in the world by discharge volume of water, located in South America and playing a crucial role in the Amazon rainforest ecosystem.

Mexico

A country located in the southern part of North America, known for its rich cultural heritage, history, and diverse landscapes.

Luxury Goods

High-end products or services that are not essential but are desired for their quality, status, or aesthetic appeal.