Which of the following is the best example of the economic concept of scarcity? a) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies. Ob) Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues. c) The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply. d) Pokemon Go is the most popular cell-phone app that can be downloaded free from an app store.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Which of the following is the best example of the economic concept of scarcity?
a) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers
trying to purchase the limited number of available Teddies.
Ob) Fred only gets a 10-hour lunch break and each day must decide between
working out at the gym or socializing with his colleagues.
c) The local market's buy-one-get-one-free sale on strawberries results in more
people wanting the berries than producers are able and willing to supply.
d) Pokemon Go is the most popular cell-phone app that can be downloaded free
from an app store.
Transcribed Image Text:Which of the following is the best example of the economic concept of scarcity? a) The Talking Teddy is a surprise holiday hit, resulting in long lines of consumers trying to purchase the limited number of available Teddies. Ob) Fred only gets a 10-hour lunch break and each day must decide between working out at the gym or socializing with his colleagues. c) The local market's buy-one-get-one-free sale on strawberries results in more people wanting the berries than producers are able and willing to supply. d) Pokemon Go is the most popular cell-phone app that can be downloaded free from an app store.
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