Could you explain in economic concepts the situation in the image why there is scarcity in the situation?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Could you explain in economic concepts the situation in the image why there is scarcity in the situation?
While booking airline tickets for the upcoming
Christmas holiday, I noticed the high demand
for airline tickets during the holiday season.
My decision to book a family trip to see my
grandparents during the Christmas season
demonstrates scarcity for an unlimited desire
with limited resources. People's desire to go on
vacation outnumbers the availability of seats
and tickets. This is evident because the prices
are three times higher. They are also
completely sold out for the holiday dates.
Transcribed Image Text:While booking airline tickets for the upcoming Christmas holiday, I noticed the high demand for airline tickets during the holiday season. My decision to book a family trip to see my grandparents during the Christmas season demonstrates scarcity for an unlimited desire with limited resources. People's desire to go on vacation outnumbers the availability of seats and tickets. This is evident because the prices are three times higher. They are also completely sold out for the holiday dates.
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