Crude oil, which is found only in certain regions of the world, is used for using the gasoline Americans use every
day. Oil can also be refined into diesel and jet fuel. Additionally, it is used to make plastic and man-made fibers
such as nylon. Which of the following characteristics of scarcity does oil exemplify?
i. limited in quantity
ii. desirable
1. has more than one use
Answers: 2
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