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When Economists Say a Good Is Scarce, They Mean

Question 211

Multiple Choice

When economists say a good is scarce, they mean


A) there are only a limited number of consumers who would be interested in purchasing the good.
B) the human desire for the good exceeds the amount freely available from nature.
C) most people in poorer countries do not have enough of the good.
D) the production of the good has no opportunity cost for society.

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