Question

In the aftermath of a hurricane, clean water became scarce, and the price of bottled water skyrocketed. This is an example of the role of price in A. Serving as a signal to regulators. B. Creating a surplus of goods. C. Distributing scarce resources efficiently. D. Limiting the profit incentive

Answer 1

The scarcity of clean water and the price of bottled water skyrocketing is an example of price in C. Distributing scarce resources efficiently.

What is price?

It should be noted that price simply means the amount that's charged for a particular good.

In this case, the scarcity of clean water and the price of bottled water skyrocketing is an example of price in distributing scarce resources efficiently.

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