If a resource is in fact becoming scarcer, then one should expect
A)the price of the resource to rise.
B)less demand for the resource as people try to conserve.
C)greater supply as people reduce inventories before it is all gone.
D)all of the above.

Question

Quizplus · Accepted Answer

If a resource is becoming scarcer, the principle of supply and demand would dictate that the price of the resource would rise as the supply decreases and demand remains constant or increases.

If a Resource Is in Fact Becoming Scarcer, Then One