What Happens to a Resource as It Becomes Scarcer

question 68

Multiple Choice

What happens to a resource as it becomes scarcer?

• A) The price rises and this increases the future supply relative to demand.
• B) The price rises and this increases the future demand relative to supply.
• C) The price falls and this increases the future supply relative to demand.
• D) The price falls and this increases the future demand relative to supply.

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Definitions:

Court Ceremony

Formal rituals, traditions, or practices conducted in the royal court or the court of a monarch, often involving elaborate protocol.

Momoyama Period

A cultural period in Japan from 1573 to 1603, characterized by lavish art, castle construction, and the development of tea ceremony and Noh theater.

White Heron Castle

Another name for Himeji Castle, a historic castle in Japan, known for its impressive architecture and white exterior.

Territorial Conflict

A dispute over land ownership, boundaries, or control between two or more entities, often leading to tension or conflict.