Which of the Following Most Accurately Describes a "Scarce" Good

question 130

Multiple Choice

Which of the following most accurately describes a "scarce" good?

• A) a good for which available resources are insufficient to satisfy unlimited human desires for it
• B) a good that is always in demand at any price
• C) a good for which there is a shortage at the current market price
• D) a good for which it is impossible to increase production any further given the available resources and technology

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Definitions:

360-Degree Feedback Process

A method of performance appraisal that gathers feedback on an individual from their supervisors, peers, subordinates, and sometimes clients to provide a comprehensive view of their performance.

Work-Related Behaviors

Actions and attitudes demonstrated by employees in a workplace setting, affecting performance and productivity.

Formal Communications

Official, structured communication that follows established channels and protocols within an organization.

Greater Challenges

Refers to more difficult or complex obstacles and tasks that require a higher level of skill, creativity, and effort to overcome.