Which of the following products would be considered scarce?
A) golf clubs
B) Picasso paintings
C) apples
D) All of the above are correct.

Question

Quizplus · Accepted Answer

All of the above products would be considered scarce because they have a limited supply relative to the demand for them. Golf clubs and Picasso paintings are scarce because they are unique and desirable goods that do not have a readily available substitute. Apples are scarce because they have a finite supply, and as demand for them increases, prices may rise due to scarcity.

Which of the Following Products Would Be Considered Scarce