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A resource is said to be scarce when there isn't enough of it to go around. When Daniel begins thinking about all the things he wants to do with his summer vacation, he realizes he only has a limited number of weeks before he has to go back to school.His summer vacation is a scarce resource: there isn't enough of it to meet his demand. Spending two weeks at Baseball camp means he would not have enough time to do something else. For example, if he spends his time at baseball camp he won't be able to spend that time at the county fair with his friends. The problem Daniel faces is a problem of scarcity.
What else can I help you with?
Why is water considered a scarce resource?
Water is considered as a scarce resource as fresh water occupies only 3% of total water found on earth.
Is time a scarce resource?
yes
Is electricity a scarce resource in today's world?
Electricity is not considered a scarce resource in today's world, as it is widely available and accessible in most developed countries. However, there are concerns about the sustainability of electricity production and the need to transition to renewable energy sources to meet future demands.
What is a scarce resource in the region?
fossil fuels
What three criteria that make a resource scarce?
A resource is considered scarce when it meets three key criteria: limited availability, meaning the quantity is finite and cannot meet total demand; high demand, where the resource is sought after by many users or industries, increasing competition for it; and no perfect substitutes, indicating that there are few or no alternatives that can fulfill the same need effectively. Together, these factors create a situation where the resource's value increases due to its scarcity.
Why is water considered a scarce resource?
Water is considered as a scarce resource as fresh water occupies only 3% of total water found on earth.
Why water considered a scarce resource?
Water is considered as a scarce resource as fresh water occupies only 3% of total water found on earth.
Why time as a resource is scarce?
Because it is important
Are trees considered a scarce resource?
Yes, trees can be considered a scarce resource depending on the context. In some regions or ecosystems, trees may be limited due to deforestation, urbanization, or specific tree species becoming rare. However, globally, trees are abundant.
Is time a scarce resource?
yes
What is a scarce resource in Iran?
Rain
Is electricity a scarce resource in today's world?
Electricity is not considered a scarce resource in today's world, as it is widely available and accessible in most developed countries. However, there are concerns about the sustainability of electricity production and the need to transition to renewable energy sources to meet future demands.
What important resource is extremely scarce in North Africa and Southwest Asia?
Water is the most scarce resource in north Africa and southwest Asia.
What is a scarce resource in the region?
fossil fuels
Why is coal a scarce resource?
Coal is considered a scarce resource because its formation takes millions of years and the rate at which it is being consumed far exceeds the rate at which it is being naturally replenished. Furthermore, the extraction of coal can be environmentally damaging, leading to concerns about its long-term sustainability as an energy source.
When a needed resource in an ecosystem becomes scarce it is called?
A limiting factor
Is oil scarce?
This is because oil is a nonrenewable resource.
