Question

which situation best illustrates the concept of scarcity?
a class designing and selling calendars
a cook learning to be an executive chef
a friend buying a copy of a popular dvd
a person buying a used car due to limited income

Explanation:

Scarcity refers to limited resources relative to unlimited wants, forcing choices. The only option showing a constraint (limited income) forcing a trade-off (choosing a used car over a new one) is the last choice. The other options do not involve resource limitations restricting desired choices.

Answer:

D. a person buying a used car due to limited income