What does 'scarce' refer to?

What does 'scarce' refer to?

• A. Abundant and easy to find
• B. Insufficient to satisfy the need or demand; rare
• C. Common and widely available
• D. Limited but easily accessible

Answer: (B)

The term 'scarce' relates to something that is not readily available in large quantities and is insufficient to meet the demand or need for it. When resources or items are described as scarce, it indicates that they are rare, making them more valuable due to their limited availability. This concept is often used in economics and environmental studies to discuss the distribution of resources such as water, food, or energy, where the supply does not meet the demand. Recognizing the rarity associated with scarcity is essential in understanding how individuals or societies prioritize their needs and make decisions based on the limited resources available to them.

The term 'scarce' relates to something that is not readily available in large quantities and is insufficient to meet the demand or need for it. When resources or items are described as scarce, it indicates that they are rare, making them more valuable due to their limited availability. This concept is often used in economics and environmental studies to discuss the distribution of resources such as water, food, or energy, where the supply does not meet the demand. Recognizing the rarity associated with scarcity is essential in understanding how individuals or societies prioritize their needs and make decisions based on the limited resources available to them.