6 Views

Question : Scarcity is _______.

Option 1: Universal

Option 2: Non-universal

Option 3: Both 1 and 2

Option 4: None of the above


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 16th Jan, 2024

Correct Answer: Universal


Solution : The limitation of the supply in relation to the demand for a good or service is called scarcity. It describes a situation in which there are more wants than resources. Hence, the correct option is 1.

Related Questions

Amity University-Noida B.Tech...
Apply
Among top 100 Universities Globally in the Times Higher Education (THE) Interdisciplinary Science Rankings 2026
Amity University-Noida M.Tech...
Apply
Among top 100 Universities Globally in the Times Higher Education (THE) Interdisciplinary Science Rankings 2026
Amity University-Noida BBA Ad...
Apply
Among top 100 Universities Globally in the Times Higher Education (THE) Interdisciplinary Science Rankings 2026
VIT Bhopal University | B.Arc...
Apply
Mark presence in the Modern Architectural field with Bachelor of Architecture | Highest CTC : 70 LPA | Accepts NATA Score
New Horizon College BBA Admis...
Apply
UG Admissions 2026 open| NAAC ‘A’ grade | Merit-based Scholarships available.
VIT Bhopal University | Integ...
Apply
Integrated M.Tech admissions open @ VIT Bhopal University | Highest CTC 70 LPA | Application Closing Soon | Apply now
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books