The concept of scarcity applies equally to Bill Gates and a homeless person because:
A) both have the same legal rights protected by the U.S. constitution.
B) they have the same access to the markets for goods and services.
C) there are only 24 hours in the day for both of them.
D) they are both consumers.

Question

Quizplus · Accepted Answer

Scarcity applies to everyone because time is a limited resource, and both Bill Gates and a homeless person have only 24 hours in a day to allocate among their various needs and wants.

The Concept of Scarcity Applies Equally to Bill Gates and a Homeless