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Which of the following best demonstrates the concept of scarcity?
OA. Grocery stores sometimes limit the number of sale items that you can buy.
OB. During World War II, butter and meat were rationed.
C. Michael has enough money to buy a CD or a book, but not both.
D. During a blizzard, the hardware store sells out of shovels and cannot get more this week.



Answer :

GinnyAnswer

Final answer:

Scarcity in economics reveals the need to make choices due to limited resources and unlimited desires.


Explanation:

Scarcity is a fundamental concept in economics, signifying the limitation of resources compared to unlimited wants. It requires individuals to make choices due to the inability to have everything they desire. The examples provided demonstrate scarcity through limited resources like during World War II rationing, grocery store item limits, and individual budget constraints.


Learn more about Scarcity in Economics here:

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