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. Shortage
D. Scarcity

Question

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.	Shortage
	D.	Scarcity

pooja195 · Answer

Shortage would be the correct answer. the definition of scarcity is the dollars that become available for investors to use when others save. If you think about it, the store didnt have enough so it would be a shortage.

pooja195 · Answer

by the way welcome to Openstudy! I don't beleive this belongs here try posing it in finanace i think :)

anonymous · Answer

thank you!

pooja195 · Answer

No problem :)