Relative scarcities are indicated by
A)supply and demand being out of equilibrium.
B)surpluses.
C)excess demand and excess supply.
D)relative prices.

Question

Quizplus · Accepted Answer

Relative scarcities are indicated by relative prices, which reflect the scarcity of a good or service. Higher prices typically indicate a greater scarcity, while lower prices indicate a lesser scarcity. The other options (A, B, and C) may be the result of a relative scarcity, but they do not directly indicate it.

Relative Scarcities Are Indicated by