Corner offices in high-rise office buildings usually cost more to rent than other offices.This BEST illustrates the economic concept of:
A)specialization.
B)scarcity.
C)equilibrium.
D)opportunity costs.

Question

Quizplus · Accepted Answer

The scenario presented in the question is an example of the economic principle of scarcity. Scarcity refers to the limited availability of resources (in this case, high-rise corner offices) relative to the demand for them. Because there are fewer corner offices available in high-rise buildings, they command a higher price. This is a clear demonstration of the economic concept of scarcity.

Corner Offices in High-Rise Office Buildings Usually Cost More to Rent