Economic pundits are predicting that local construction markets will most likely experience an increase in steel prices of nearly 20% in a coming 48 months. This is due to a shortage of available steel which will not be enough for all the needs of projected construction companies. What is this an example of?
A) Uncontrolled greed
B) Under-planning
C) Scarcity
D) Over-consumption
Correct Answer:
Verified
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