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) Pokemon Go is the most popular cell-phone app that can be downloaded free from an app store.

Understand the hormonal basis of aggression.

Differentiate between the components of love as identified by Sternberg.

Recognize the phenomena related to the psychology of compliance and obedience.

Identify and understand the steps involved in bystander intervention.

---

Definitions:

Indifference Curves

A graphical representation showing combinations of goods or services among which a consumer is indifferent, depicting equal levels of satisfaction.

Preferences

An indication of the comparative liking, desires, or tastes of consumers for one good or service over another.

Parallel

In mathematics and computing, it refers to lines that remain the same distance apart and never meet, or processes occurring simultaneously.

Transitive Preferences

A condition in decision-making where if an individual prefers option A over B, and B over C, then they must also prefer A over C.