A resource is not scarce if
A)there is more of this resource than people want.
B)it can be found in any store.
C)people have enough money to pay for it.
D)it has a low opportunity cost.
E)its supply exceeds its demand.

Question

Quizplus · Accepted Answer

When there is more of a resource than people want, it is not considered scarce. The definition of scarcity is when there is a limited amount of a resource, but there is an unlimited desire for it. Therefore, if there is an abundance of the resource, it is not scarce.

A Resource Is Not Scarce If