Which of the Following Is the Best Example of Scarcity

question 407

Multiple Choice

Which of the following is the best example of scarcity?

• A)The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies.
• B)Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues.
• C)The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply.
• D)There is a bumper crop of strawberries, and stores have more berries than they can sell.

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Definitions:

Factors

Numbers or quantities that can be multiplied together to produce another number, often used in breaking down numbers into their elemental parts.

Lowest Terms

The simplest form of a fraction, where the numerator and denominator are reduced to their smallest possible integers.

Percentage

A mathematical concept expressing a quantity as a fraction of 100.