Suppose that your friend Victor gives you a bottle of red wine for your birthday, and tells you that only 100 bottles of that wine exist in the world. Suddenly the wine seems very important and special. This would seem to be due to the so-called ____ principle.

Question

Quizplus · Accepted Answer

The principle at work here is scarcity, as the limited supply of the wine has increased its perceived value in the eyes of the recipient.

Suppose That Your Friend Victor Gives You a Bottle of Red