Scarcity of resources occurs due to:
Options
AHigh demand of resources
BAbsence of Substitutes
CMismanagement and inequality
DAll of these
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Introduction to Business EconomicsMTP Apr 21Question 679 of 209
All Questions Correct Answer
✅ Option d — All of these
All Options:
- AHigh demand of resources
- BAbsence of Substitutes
- CMismanagement and inequality
- DAll of these
About This Chapter: Introduction to Business Economics
Paper
Paper 4: Business Economics
Weightage
5%
Key Topics
Meaning, Scope, Price Mechanism
This chapter lays the groundwork for understanding Business Economics as a discipline. It covers the meaning, scope, and nature of economics — including key distinctions like Microeconomics vs Macroeconomics, Positive vs Normative economics, and the fundamental economic problem of scarcity. Students learn how businesses use economic principles for decision-making in a competitive marketplace.
View Official ICAI SyllabusExam Strategy Tip
Focus on definitions and distinctions between concepts. Questions often test whether you understand the difference between Micro and Macro, or Positive and Normative statements.
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