Question

d the hat that goes with the t - shirt
e.01 3. the fact that carlos cannot afford to buy both the t - shirt and the video game demonstrates the
economic concept of

a scarcity.
b shortage.
c property rights.
d voluntary exchange.

Explanation:

To solve this, we analyze each option:

• Option A (scarcity): Scarcity in economics refers to the limited nature of resources (including money, in this case) relative to unlimited wants. Carlos can't afford both items because his money (a resource) is limited, so this fits.
• Option B (shortage): A shortage is a temporary lack of a good in the market, not related to an individual's ability to pay, so this is incorrect.
• Option C (property rights): Property rights deal with ownership, not affordability, so this is incorrect.
• Option D (voluntary exchange): Voluntary exchange is about trading goods/services freely, not about inability to afford, so this is incorrect.

Answer:

A. scarcity.