David has just ordered a smartphone only to be told that she will have to wait one month for it to be delivered. Which of the following statements is TRUE?
A) The smartphone is not a scarce good.
B) The smartphone is an economic good.
C) The smartphone is human capital.
D) The smartphone is an intangible good.

Question

Quizplus · Accepted Answer

The fact that David has to wait for a month implies that there is limited availability of the smartphone at the moment, making it a scarce good. As a result, it is considered an economic good, i.e., a good that holds value in the market and requires scarce resources to produce. It cannot be considered human capital as it is a physical good and not a skill or knowledge that a person possesses. Additionally, it is not an intangible good as it is a physical product that can be held and touched.

David Has Just Ordered a Smartphone Only to Be Told