A Resource Is Not Scarce If

question 97

Multiple Choice

A resource is not scarce if

• A)there is more of this resource than people want.
• B)it can be found in any store.
• C)people have enough money to pay for it.
• D)it has a low opportunity cost.
• E)its supply exceeds its demand.

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Definitions:

Agreed Upon Meaning

A mutual understanding or interpretation of a term or concept established through communication or negotiation.

Digital Media

Content or media that is encoded in machine-readable formats and accessed or distributed via digital technologies.

Effective Communication

The process of exchanging information between individuals in such a way that the intended message is accurately conveyed and understood.

Communicate Externally

The process of sharing information and maintaining relationships with individuals or entities outside an organization.