Question

Which of the following examples best illustrates scarcity:

a. The city of Honolulu increases the availability of parking next to an old stadium to accommodate the increase in visitors and audiences in recent years.
b. The value of land in the Central Business District of Kuala Lampur, Malaysia has been increasing as the city continues to enjoy an economic boom.
c. Due to an increase in demand for craft beer in New York City, the number of microbreweries has increased.
d. The code for a film editing software has been made open source and the software is now being replicated by a number of other companies.

Answer 1

Answer:

c. Due to an increase in demand for craft beer in New York City, the number of microbreweries has increased.

Explanation:

In economics, Scarcity can be regarded as paucity, it's the basic fact about life, which explain that there is finite and limited resources in life. It's a concept that explains the gap that exist between insufficient resources as well as theoretical needs that is needed to be met by the mentioned resources.