A Good or Service Becomes Scarcer Over Time If

question 69

Multiple Choice

A good or service becomes scarcer over time if

• A) the difference between quantities demanded and supplied at a zero price decreases.
• B) the excess of the quantity demanded over the quantity supplied at a zero price increases.
• C) the economy is capable of producing more goods and services.
• D) people begin to reduce their requirements for the goods and services that are actually available.
• E) the amount of a good available equals the amount desired.

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Definitions:

Depression

A mental health disorder characterized by persistently low mood and a lack of interest in activities, often accompanied by various physical symptoms.

Mania

Mania is a mental state characterized by extremely elevated mood, energy, and unusual thought patterns, often associated with bipolar disorder.

Schizophrenia

A chronic and severe mental disorder characterized by distortions in thinking, perception, emotions, language, sense of self, and behavior.

Alcoholism

A chronic disease characterized by uncontrolled drinking and preoccupation with alcohol, leading to physical and emotional dependence and various health issues.