MyQuestionIcon

2

You visited us 2 times! Enjoying our articles? Unlock Full Access!

Scarcity

You want to b...

Question

You want to buy a scooter which costs Rs. 40,000. However, you only have Rs 25,000 with you. This is a manifestation of______.

A

Unemployment

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Poverty

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Scarcity

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

Consumption

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Scarcity

Here, you are unable to satisfy your wants using limited resources. This is a manifestation of scarcity.

Suggest Corrections

thumbs-up

0

Similar questions

Q. You have Rs.

1, 000

as your pocket money. You can deposit this money in a bank and get RS.

1, 100

after a year. However, you have two other choices:
(i) lend this money to your friend who is ready to pay you Rs.

1, 050

after an year, or
(ii) keep the money with you as cash in hand.
What is the opportunity cost of keeping the money as cash in hand?

Q. Read the following information and answer the question.
You have a Rs. 100 note and you have to buy a birthday present for Riyaan. Here are some items that you would like to buy for him.

Box of chocolates	Rs. 125	Ball	Rs. 75
Toy helicopter	Rs. 250	Comic book	Rs. 89
A robot	Rs. 198	Packet of toffees	Rs. 20

How much charge will be left with you, if you buy a comic book for Riyaan?

If you buy a pencil that costs Rs 0.25 and pay for it with a rupee note, how much change will you get?

Q. Read the following information and answer the question.
You have a Rs. 100 note and you have to buy a birthday present for Riyaan. Here are some items that you would like to buy for him.

Box of chocolates	Rs. 125	Ball	Rs. 75
Toy helicopter	Rs. 250	Comic book	Rs. 89
A robot	Rs. 198	Packet of toffees	Rs. 20

Which of these items can you buy for him?

Q. When you were a child, you used to get a kulfi at Rs. 10. Now the same kulfi costs Rs. 20. This phenomenon can be related to

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Understanding the Economy

STATISTICS

Watch in App

explore_more_icon

Explore more

Standard XI Statistics

Join BYJU'S Learning Program

CrossIcon