📚 Learning Guide
Understanding Economic Scarcity
easy

Maria has a limited budget of $50 for groceries this week, but her family has an endless list of food items they want. How should she approach her grocery shopping in light of economic scarcity?

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Learning Path
Learning Path

Question & Answer
1
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2
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3
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4
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Choose the Best Answer

A

Buy everything on the list regardless of price to avoid missing out on any items.

B

Prioritize essential items first and then consider optional items if the budget allows.

C

Ignore the budget and purchase only the most expensive items for better quality.

D

Buy only the cheapest items to fill the cart completely.

Understanding the Answer

Let's break down why this is correct

Answer

Maria faces economic scarcity because she has a limited budget of $50, but her family's food desires are greater than what she can afford. To manage this situation, she should prioritize the most essential items her family needs for the week, such as fruits, vegetables, and proteins, while considering cheaper alternatives for other items. For example, if her family wants steak but it’s too expensive, she could choose chicken or beans instead, which are nutritious and more affordable. By making a list of priorities and sticking to it, Maria can ensure she buys the most important foods without exceeding her budget. This approach helps her understand that scarcity means making choices about what to buy based on limited resources.

Detailed Explanation

Maria should focus on the most important items first. Other options are incorrect because Buying everything on the list can lead to overspending; Ignoring the budget for expensive items can leave her with nothing.

Key Concepts

Economic Scarcity
Budgeting and Trade-offs
Resource Allocation
Topic

Understanding Economic Scarcity

Difficulty

easy level question

Cognitive Level

understand

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