When Economists Say Scarcity, They Mean

question 78

Multiple Choice

When economists say scarcity, they mean:

• A) there are only a limited number of consumers who would be interested in purchasing goods.
• B) the human desire for goods exceeds the available supply of time, goods and resources.
• C) most people in poorer countries do not have enough goods.
• D) goods are so expensive that only the rich can afford it.

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Definitions:

PGAL

Phosphoglyceraldehyde, an intermediate molecule formed in the photosynthesis and glycolysis metabolic pathways, important in the metabolic process.

NADPH

Nicotinamide adenine dinucleotide phosphate, a coenzyme involved in cellular processes, mainly anabolism and as a reducing agent in anabolic reactions.

Phosphate Group

A chemical group consisting of phosphorus bonded to four oxygen atoms, important in energy transfer.