Which Example Is Considered an Artificially Scarce Good

question 147

Multiple Choice

Which example is considered an artificially scarce good?

• A)a candy bar
• B)a free art exhibit in a city park
• C)a pay-per-view boxing match on cable television
• D)an interstate highway without tolls

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Definitions:

Dwarf Varieties

Plant breeds specifically cultivated to be smaller in size, often used in compact gardening spaces or for decorative purposes.

Agriculture

The practice of cultivating soil, growing crops, and raising livestock for food, fiber, medicinal plants, or other products used to sustain and enhance human life.

Law of Diminishing Returns

An economic principle stating that adding more of one factor of production, holding all else constant, will at some point yield lower per-unit returns.