the chess club needs to raise money for tournament uniforms. some members want to sell energy drinks at a…
the chess club needs to raise money for tournament uniforms. some members want to sell energy drinks at a football game to raise funds, but others want to organize a car wash in the school parking lot. based on the concept of scarcity, which thought should drive members decision - making process to determine how to fundraise? ○ where will unsold energy drinks be stored? ○ is there enough consumer demand for a car wash? ○ will the concession stand be open during the big game? ○ are there enough volunteers to work a car wash?
Answer
Brief Explanations:
Scarcity in economics (and decision - making) refers to limited resources. When deciding on a fundraising method, the availability of resources (here, volunteers are a resource for the car wash) is crucial. The question “Are there enough volunteers to work a car wash?” relates to the scarcity of human resources (volunteers) for the car wash option. The other options: storing unsold drinks is about storage (not scarcity), consumer demand for car wash is about demand (not resource scarcity), and concession stand open is about timing (not resource scarcity).