Question

Which of the following are required for a resource to be considered scarce? i. It must be desirable. ii. It must be plentiful. iii. It must exist in limited quantities. A. i only B. ii only C. i and ii only D. i and iii only

Answer 1

D. In order for a resource to be considered scarce, some people have to use it so it must be desirable (I) and (III). Scarce can be defined as not plentiful, therefore II makes no sense in this context.