When economists say a certain kind of good is scarce, they mean that<\/p>
a) it takes time or energy to acquire<\/p>
b) it is desired by more than one person<\/p>
c) its market price is greater than zero <\/p>
d) there is a limited supply of it<\/p>
<\/p>
I think all four following could be the answer :). But the solution said only d is correct one. Why? <\/p>
Thank you for your answering.<\/p>", "transcribed_text": "", "related_book": { "title": "Entrepreneurship", "isbn": "1119563097, 9781119563099", "edition": "5th Edition", "authors": "Andrew Zacharakis, William D Bygrave", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2021\/11\/6192073f58970_0626192073ecba87.jpg", "uri": "\/textbooks\/entrepreneurship-5th-edition-9781119563099", "see_more_uri": "" }, "free_related_book": { "isbn": "1292259493", "uri": "\/textbooks\/business-and-management-consulting-1st-edition-9781292259499", "name": "Business And Management Consulting", "edition": "1st Edition" }, "question_posted": "2024-06-12 17:04:54", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/a-banks-derivatives-transactions-with-a-counterparty-are-worth-10", "description": "A banks derivatives transactions with a counterparty are worth +$10 million to the bank and are cleared bilaterally. The counterparty has posted $10 million of cash collateral. What credit exposure...", "stars": 3 }, { "url": "\/you-undoubtedly-have-read-about-individuals-who-seemingly-have-given", "description": "You undoubtedly have read about individuals who seemingly have given single-handed direction to their corporations. Is a participative strategic management approach likely to stifle or suppress the...", "stars": 3 }, { "url": "\/study-help\/biostatistics\/what-are-the-null-and-alternative-hypotheses-tested-by-the-1981304", "description": "What are the null and alternative hypotheses tested by the ????-ratio in the ANOV table?", "stars": 3 }, { "url": "\/data-envelopment-analysis-can-measure-the-relative-efficiency-of-a", "description": "Data envelopment analysis can measure the relative efficiency of a group of hospitals. The following data from a particular study involving seven teaching hospitals include three input measures and...", "stars": 3 }, { "url": "\/study-help\/questions\/bought-her-dress-for-the-recital-because-it-was-a-9795284", "description": "Bought her dress for the recital because it was a designer gown and she felt more important wearing it and she needed that confidence before performing. This represents the importance of the BLANK...", "stars": 3 }, { "url": "\/study-help\/questions\/downtown-cincinnati-in-an-area-known-as-over-the-rhine-3436888", "description": "Downtown Cincinnati, in an area known as \"Over the Rhine\", has long been an area of poverty containing empty and rundown buildings.The city of Cincinnati wishes to use this area to create new...", "stars": 3 }, { "url": "\/study-help\/questions\/the-marketing-department-of-graber-corporation-has-submitted-the-following-5626069", "description": "The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year. Budgeted unit sales First Quarter 16,000 Second Quarter 15,000 Third Quarter...", "stars": 3 }, { "url": "\/study-help\/questions\/tom-negotiates-with-marion-for-the-purchase-of-three-brand-4859386", "description": "Tom negotiates with Marion for the purchase of three brand new cars which he had seen advertised in the local newspaper for 10,000 each. They are both local car dealers. Consider the legal position...", "stars": 3 }, { "url": "\/study-help\/questions\/hello-ive-attached-an-assignment-as-a-word-file-we-2953093", "description": "(b) (i) A circuit has a voltage v(t) = vocos (wt) applied to it and draws a current: i(t) = iocos (wt +) where is the constant phase difference between the voltage and current waveforms and all other...", "stars": 3 }, { "url": "\/study-help\/questions\/the-partnership-of-waterway-wildhorse-and-sheffield-engaged-you-to-989961", "description": "The partnership of Waterway, Wildhorse, and Sheffield engaged you to adjust its accounting records and convert them uniformly to the accrual basis in anticipation of admitting Kerns as a new partner....", "stars": 3 }, { "url": "\/study-help\/questions\/the-following-information-applles-to-the-questions-displayed-below-diana-6862303", "description": "[The following information applles to the questions displayed below.] Diana and Ryan Workman were married on January 1 of last yeat, Ryan has an eight-year-old son, Jorge, from his previous marriage....", "stars": 3 }, { "url": "\/study-help\/questions\/candy-ltd-is-a-large-sweets-company-based-in-perth-4771299", "description": "Candy Ltd is a large sweets company based in Perth. Candy Ltd is well known in the industry for their number one invention - the bomb bomb boom candy. The company was incorporated by Gustaf Gobb, who...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/a-persons-savings-account-is-currently-worth-php-2201976-every-2831715", "next": "\/study-help\/questions\/r2-explain-the-multiplier-process-that-helps-the-economy-recover-2831717" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Economics", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-economics" }, { "name": "When economists say a certain kind of good is scarce, they mean", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/when-economists-say-a-certain-kind-of-good-is-scarce-2831716" } ], "skill_details": { "skill_id": "12", "skill_name": "Economics", "parent_id": "1" } } } }