Which Example Is BEST Characterized as an Artificially Scarce Good

question 52

Multiple Choice

Which example is BEST characterized as an artificially scarce good?

• A)diamonds because their supply is artificially restricted by monopoly producers
• B)music that is downloadable from the Internet for a fee
• C)a daily newspaper
• D)hot dogs in a sports stadium because the number of suppliers is restricted

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Definitions:

Bit Rate

The rate at which bits are transferred or processed, often measured in bits per second (bps), used in digital media to denote audio or video quality.

Digital Audio

Sound that has been encoded in a digital format for processing, storage, or transmission.

Smartphone

A mobile phone that includes advanced features beyond making calls and sending texts, such as internet connectivity and the ability to run software applications.

Programming Languages

A set of rules, vocabulary, and syntax used to instruct computers to perform specific tasks.