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.
B
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The primary source of revenue for local governments is _____
a. income taxation b. sales taxation c. estate taxation d. property taxation
A college student decides to spend the afternoon watching three movies rented from Red Box. The cost of each movie is $1. The student was willing to pay $4 to rent each of the first two movies and $2 to rent the third movie. What was the marginal benefit received by the student when renting the 3rd movie?
A. $1 B. $8 C. $4 D. $2
The demand for money is a downward sloping line that depicts the relationship between the price level and the opportunity cost of holding money
a. True b. False Indicate whether the statement is true or false
Refer to Exhibit 6-2. The unemployment rate in year 2 is
a. 75 percent. b. 33 1/3 percent. c. 50 percent. d. 66 2/3 percent. e. 25 percent.