Exam Question
To say that a good is scarce means
- 1. that at the current market price of that good, the quantity demanded exceeds the quantity supplied
- 2. the price of the good is too high
- 3. that the amount that people want exceeds the limited resources available to fulfill those wants
- 4. the good is unavailable
View Answer
Answer 1. that at the current market price of that good, the quantity demanded exceeds the quantity supplied
Practice set and Exam Quiz
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