If a Resource Is in Fact Becoming Scarcer, Then One

question 122

Multiple Choice

If a resource is in fact becoming scarcer, then one should expect

• A)the price of the resource to rise.
• B)less demand for the resource as people try to conserve.
• C)greater supply as people reduce inventories before it is all gone.
• D)all of the above.

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Definitions:

Institution of Nobility

The structured system or establishment of noble classes within a society, often hereditary, that enjoys certain privileges, titles, and social statuses.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Diplomatically Useful

A term describing actions or policies that can serve a country's foreign policy interests or facilitate international relations.