Asked by
Vanessa Deleon
on Oct 27, 2024
Verified
In Ventura County,California,strawberry production is limited by the number of acres available for agriculture production.Which economic concept does this statement BEST represent?
A) Scarcity
B) Marginal Analysis.
C) Equilibrium.
D) Opportunity Cost.
Ventura County
A region located in the southern part of California, known for its agriculture, suburban lifestyle, and as part of the Greater Los Angeles area.
Strawberry Production
The cultivation and harvest of strawberries, involving processes from planting to selling the fruit.
Economic Concept
Fundamental ideas or principles that form the basis of economic theory and practice, such as supply and demand.
- Acquire knowledge about the concept of scarcity and its role in shaping economic decisions.
Verified Answer
TS
Learning Objectives
- Acquire knowledge about the concept of scarcity and its role in shaping economic decisions.