which situation would be the best description of scarcity? a the stock market crash in 1929. b the gasoline…

which situation would be the best description of scarcity? a the stock market crash in 1929. b the gasoline shortage in the 1970s. c climate changes impact on the sea level. d the construction of infrastructure during roosevelts new deal.

which situation would be the best description of scarcity? a the stock market crash in 1929. b the gasoline shortage in the 1970s. c climate changes impact on the sea level. d the construction of infrastructure during roosevelts new deal.

Answer

Brief Explanations:

Scarcity refers to limited resources relative to unlimited wants. The gasoline shortage in the 1970s is a classic example of scarcity as there was not enough gasoline to meet the demand. The stock - market crash was a financial event, climate change's impact on sea - level is an environmental issue, and infrastructure construction during the New Deal was a government program for economic recovery, none of which directly represent scarcity as well as the gasoline shortage.

Answer:

B. The gasoline shortage in the 1970s