Suppose that Thabo has a budget of about R15,000 and must decide whether to spend it on a new laptop or a game for his PlayStation. Use this scenario to answer the following question. Which statement best explains the concept of scarcity?

Question

Answer

Thabo can buy both items because scarcity does not apply to him; it only applies to businesses.

Answer

Thabo cannot buy both items because he has limited funds.

Answer

Scarcity means Thabo has unlimited money to spend.

Answer

Thabo is not facing a scarcity problem because he has money.

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Suppose that Thabo has a budget of about R15,000 and must decide whether to spen...

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