One of the most obvious clues to the relative scarcity of a product in a market economy is
A) the variations in available sizes.
B) its current market price.
C) the limited selection of colors.
D) none of the above

Question

Quizplus · Accepted Answer

The current market price of a product in a market economy is a reflection of its relative scarcity. If a product is in high demand but with limited supply, its price will increase as consumers compete to purchase the limited quantity available. Conversely, if a product is readily available with a surplus supply compared to its demand, its price will be lower. Therefore, the current market price is a crucial indicator of a product's scarcity in a market economy.

One of the Most Obvious Clues to the Relative Scarcity