As we said in the text, the average family income in Canada is about $75 000 per

Question:

As we said in the text, the average family income in Canada is about $75 000 per year. Imagine a hypothetical world in which all Canadian families had this income.
a. In such a world, would poverty exist in Canada?
b. In such a world, would scarcity exist in Canada?
c. Explain the difference between poverty and scarcity.