Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
A country chooses to produce more healthcare services at the expense of military spending.
B
A bakery offers the same price for all types of bread regardless of demand.
C
A city builds more roads without considering traffic patterns.
D
A farmer plants more corn because there is plenty of water available.
Understanding the Answer
Let's break down why this is correct
Answer
Scarcity means that there are limited resources available to meet unlimited wants and needs. This concept is essential in economic decision-making because it forces individuals and societies to make choices about how to use their resources wisely. For example, if a family has a limited budget for groceries, they must decide whether to buy fruits and vegetables or snacks, knowing they can't afford both. This decision illustrates scarcity because the family has to allocate their limited money to satisfy their needs as best as they can. By understanding scarcity, we can better appreciate the importance of making thoughtful choices about how we use our resources.
Detailed Explanation
This choice shows scarcity because the country has limited resources. Other options are incorrect because This option misunderstands demand; This choice ignores planning.
Key Concepts
economic decision-making
allocation of resources
Topic
Understanding Scarcity
Difficulty
medium level question
Cognitive Level
understand
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