Question 11
Basic ConceptsCrude oil is said to be scarce because............
- A.OPEC will not sell all that it can
- B.Oil is so expensive that we cannot afford to buy much of it
- C.At any moment, there are more uses for oil than there is oil available for our use
- D.both B and C
Show the answer and explanation
Answer: C (At any moment, there are more uses for oil than there is oil available for our use)
Explanation
Scarcity means there is less of something than people want for all its uses.