If a good is scarce,
A) there will be shortages of it if the good is rationed by markets.
B) the good will have a price in a market setting.
C) there will be enough of the good freely available from nature to satisfy the human desire for it.
D) all of the above are true.

Question

Quizplus · Accepted Answer

A scarce good will have a price in a market setting because scarcity implies limited availability relative to demand, necessitating a mechanism like pricing to allocate resources.

If a Good Is Scarce