A good or service is considered scarce if:

A) any quantity of it can be consumed at a zero price.
B) the amount people desire exceeds the amount available at a zero price.
C) the amount people desire exceeds the amount available at any price.
D) the amount people desire is less than the amount available at any price.
E) the amount people desire is less than the amount available at a zero price.

Question

Amanda Cornwell · Accepted Answer

Final Answer : B, Explanation :  Scarce goods and services have a limited supply, and if people want more of them than is available, they are considered scarce. Option B states that the amount people desire exceeds the amount available at a zero price, which means that there is a limited supply of the good or service, and thus it is considered scarce. The other options do not accurately describe scarcity.

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