French oil refinery blockades cause shortages

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What is the primary focus of the concept of scarcity?

• Abundance of resources

• Unlimited wants and needs

• Limited availability of resources

• Excessive production

Which of the following is an example of scarcity in the real world?

• Excessive food production

• Shortage of affordable housing

• Abundant natural resources

• Unlimited supply of clean water

What is a common consequence of scarcity?

• Unlimited access to all goods

• Higher prices for scarce goods

• Decreased competition for resources

• Increased resource availability

Which of the following best describes a limited resource?

• A resource that is always available

• A resource that is in infinite supply

• A resource that can be easily replaced

• A resource that is scarce and finite

How does scarcity affect decision-making?

• It increases the availability of resources

• It forces prioritization of needs

• It allows for unlimited choices

• It eliminates the need for budgeting