While shopping you discover that your favorite department store has lowered the price on a new MP3 player that you wanted to buy. You rush into the store, only to find that they are sold out. What concept does this scenario illustrate?
a. laissez faire
b. law of diminishing returns
c. scarcity
d. shortage

Respuesta :

Scarcity is Insufficiency of amount or supply...as we see that the mp3 players have been sold out..hence the supply was not able to meet the demand for all consumers of mp3..hence it shows that this scenario relates to scarcity.
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