Which of the following is an example of scarcity?

A. Adam has more than enough food to eat each day.
B. Benito is wealthy so he has everything he could ever want.
C. Camden would like to have more designer clothes than he can afford.
D. Dennis takes as many vacations as he would like since he won the lottery.


Answer: C

Economics

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In a monopolistic competitive industry, how does a small appliance firm differentiate its products by emphasizing intangible aspects?

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Suppose that today 1 British pound exchanges for $1.60. If next week 1 pound exchanges for $1.70, it is clear that

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Economics