A good is ________ if it takes even a small amount of time,energy,or money to acquire.
A) abundant
B) in shortage
C) cheap
D) scarce
E) virtually free

Question

Quizplus · Accepted Answer

Scarcity is defined as the condition where resources are limited and less than the demand. Therefore, a good that requires any form of resource (time, energy or money) to acquire is considered scarce, which leads to its value being higher compared to goods that are abundant or virtually free.

A Good Is ________ If It Takes Even a Small