Which of the following would we expect to happen with prices or quantities of natural resources if they were becoming scarcer?
A)We would expect prices to be rising relative to other prices, as they have been.
B)We would expect prices to be rising relative to other prices, but this has not occurred.
C)We would expect known quantities to be increasing, as they have been.
D)We would expect known quantities to be falling, but they have not been.

Question

Quizplus · Accepted Answer

If natural resources were becoming scarcer, we would expect their prices to rise relative to other prices. However, this has not consistently occurred, indicating that scarcity may not be increasing as expected.

Which of the Following Would We Expect to Happen with Prices