Of the following examples below, which is not an example of scarcity? Select the

Question

Of the following examples below, which is not an example of scarcity?

Select the correct answer below:

A. John has a test tomorrow that he must study for, but he also wants to go to a music concert tonight. He doesn't have time for both.

B. A puppy mill was shut down and all of the dogs went to an overcapacity humane society, leading to an increase in the supply of adoptable dogs.

C. Each year only a limited amount of the flu vaccine is created.

D. Hawaii's need for teachers is much higher than current quantity supplied because it is very expensive to live in Hawaii and most individuals cannot afford to live in Hawaii on a teacher's salary.

Explanation / Answer

Scarcity is an economic issue. As the name suggests, it mean when our demands cannot be meet from the resources we have. It means limited supply as compare to demand in terms of resources, money, time etc.

In the the given scenarios, every case has limited supply of resources except the one case that is option 'B'.

In option A, John has scarcity of time to attend music concert as well as to study. So this is an example of scarcity

In option C, each year only as limited ammount of vaccine of flu is created so this implies it has limited supply as compare to demand therefore, it has sacrcity problem.

in option D, there is limited supply of teaches in Hawaii as compare to the demand so this is an example of scarcity.

In option B, supply of dogs are in abundance in an overcapacity humane society, so in this case supply is in abundant therefore it is not a case of scarcity.

So, the answer is option B.

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