If a Good Has Become More Scarce,then We Know for Sure

question 48

Multiple Choice

If a good has become more scarce,then we know for sure that

• A)the demand for it increased.
• B)the supply of it decreased.
• C)either the demand for it increased or the supply of it decreased.
• D)both the supply of it and the demand for it decreased.

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Definitions:

Surveys

Research tools used for collecting data from a predefined group of respondents to gain information and insights on various topics of interest.

Correlation

A statistical measure that expresses the extent to which two variables fluctuate together, indicating a relationship or association between them.

Relationship

The way in which two or more concepts, objects, or people are connected, or the state of being connected.

Alternate-Forms Reliability

A method of assessment reliability that checks how consistent scores are across different versions of the same test.