ECONOMICS (CBSE/UGC NET)

ECONOMICS

SCARCITY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Your house is an example of a ____
A
Need
B
Want
C
Scarcity
D
Opportunity Cost
Explanation: 

Detailed explanation-1: -A good home provides protection. Children are less at risk of violence and sexual abuse. They are less likely to be forced into child labour, married off at a young age or forcibly recruited by armed groups. A home ensures that displaced people have better access to humanitarian aid.

Detailed explanation-2: -noun, plural hous·es [hou-ziz]. a building in which people live; residence for human beings. a household. (often initial capital letter) a family, including ancestors and descendants: the great houses of France; the House of Hapsburg. a building for any purpose: a house of worship.

Detailed explanation-3: -We all need a house for security from thieves, it will also provide safety from external conditions and also it will be a comfortable space.

Detailed explanation-4: -The word home is used to talk about the family living in a house, or the familiar space inside a person’s house, or the place someone was born or lived as a child. When you want to talk about the place or the building itself, use house: My house is the blue one on Main Street. I own a house in Florida.

There is 1 question to complete.