What Does Scarcity Imply

question 17

Multiple Choice

What does scarcity imply?

• A) At current market price, consumers are willing to purchase more of a good than suppliers are willing to produce.
• B) It is impossible to completely fulfill the unlimited human desire for goods and services with the limited resources available.
• C) Consumers are too poor to afford the goods and services available.
• D) Consumers would be willing to purchase the same quantity of a good at a higher price.

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Definitions:

TSX

The Toronto Stock Exchange, a major stock exchange located in Toronto, Canada.

Venture Exchange

A marketplace meant for trading the stocks and securities of smaller or emerging companies.

Agency Problem

A conflict of interest inherent in any relationship where one party is expected to act in another's best interests, such as between shareholders (principals) and company executives (agents).

Stockholders

Individuals or entities that own shares in a corporation, giving them an ownership stake.