Which statements accurately show the concept of scarcity? Check all that apply.There is a drought in the middle of growing season that has affected corn crops.An individual is not able to purchase a newly released video because of limited supplyA family is selling apples they have grown on their farm because they have too many to eat themselves.An individual wants to buy a new car because his is old.An individual decides that she needs to obtain a second job to save money to purchase a house.
Answer
A
There is a drought in the middle of growing season that has affected corn crops.
B
An individual is not able to purchase a newly released video because of limited supply
C
A family is selling apples they have grown on their farm because they have too many to eat themselves.
D
An individual wants to buy a new car because his is old.
E
An individual decides that she needs to obtain a second job to save money to purchase a house.
Explanation
Scarcity occurs when resources or goods are limited compared with people’s needs or wants. The drought reduces the available corn, and the limited supply of the video prevents someone from buying it. The person taking a second job to save for a house also shows limited income relative to the goal; selling extra apples is a surplus, and simply wanting a new car does not show scarcity by itself.
AI-written and checked against the verified answer.