Given the concept of scarcity, what type of choice must the owner of a calendar make when scheduling activities?

• A. Deciding which activities to prioritize due to limited time
• B. Selecting a calendar with the most decorative design
• C. Ignoring all scheduled events and leaving the calendar blank
• D. Choosing the color of the calendar pages

Answer: (A)

Verified step by step guidance

1. Understand the concept of scarcity: Scarcity means that resources are limited while wants are unlimited. In this context, the limited resource is time.
2. Identify the resource constraint: The owner of the calendar has a limited amount of time available to schedule activities, which means they cannot do everything they might want to do.
3. Recognize the need for choice: Because time is scarce, the owner must make decisions about how to allocate this limited resource among various possible activities.
4. Focus on prioritization: The owner must decide which activities are most important or valuable to schedule, effectively prioritizing some activities over others.
5. Conclude that the relevant choice involves deciding which activities to prioritize due to limited time, rather than superficial choices like calendar design or ignoring the schedule.