Which of the Following Is Not an Example of Scarcity

question 5

Multiple Choice

Which of the following is not an example of scarcity?

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

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Definitions:

Investment Turnover

A measure of a company's efficiency in using its investments to generate sales revenue.

Profit Margin

A financial metric that measures the amount of net income generated as a percentage of revenues, indicating the efficiency of a company in turning sales into profits.

Over Budget

A situation where actual spending exceeds the planned or allocated budget for a project or operation.

Budget

An estimated financial plan for a defined period, often one year, detailing projected income and expenditures and guiding financial decision-making.