Which of the following is an example of scarcity, rather than shortage? a popular toy is sold out during the busy holiday season. a person wants an endless supply of everything but cannot have it. gasoline was rationed in america during world war ii. you have spent your last penny and payday is a week away.

C) Gasoline was rationed in America during World War II

Explanation:

Scarcity is the situation where there is no human control over the demand and supply of the goods and services. Shortage is the situation which is under the control of human.

As if there is shortage more can be supplies but if there is a scarcity of a resource then it is a natural process which takes time or there are certain political and economic situations which lead to scarcity.

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