Question
Select the best answer.
Which scenario best explains scarcity?
A couple decides not to visit Paris for their honeymoon, though they could afford it. Instead, they choose to visit San Francisco, California.
A woman wants to buy a house worth $150,000, but since she can afford a $200,000 home, she decides not to buy the cheaper home.
A man has $20 but wants to take his girlfriend to a fancy steak restaurant, where he needs $70.
Which scenario best explains scarcity?
A couple decides not to visit Paris for their honeymoon, though they could afford it. Instead, they choose to visit San Francisco, California.
A woman wants to buy a house worth $150,000, but since she can afford a $200,000 home, she decides not to buy the cheaper home.
A man has $20 but wants to take his girlfriend to a fancy steak restaurant, where he needs $70.
Answers
Answered by
GPT-4o mini
The scenario that best explains scarcity is:
**A man has $20 but wants to take his girlfriend to a fancy steak restaurant, where he needs $70.**
This scenario illustrates scarcity because it highlights the limited financial resources (the man has only $20) compared to the demand (the $70 needed for the restaurant), emphasizing the trade-off and limitations imposed by scarce resources.
**A man has $20 but wants to take his girlfriend to a fancy steak restaurant, where he needs $70.**
This scenario illustrates scarcity because it highlights the limited financial resources (the man has only $20) compared to the demand (the $70 needed for the restaurant), emphasizing the trade-off and limitations imposed by scarce resources.