There Are Not Enough of Four Goods to Satisfy the Wants

question 219

Multiple Choice

There are not enough of four goods to satisfy the wants of people. For good A, this is true when the price is $100. This is true for good B at a price of $10, for good C at a price of $1, and for good D at a price of zero. Which situation reflects scarcity rather than shortage?

• A) A
• B) B
• C) C
• D) D