Economics 9708 · AS & A Level · Scarcity, choice and opportunity cost

Scarcity, choice and opportunity cost — practice question

Which combination of events would increase the level of scarcity in an economy?

  • Adiscovery of new oil reserves and higher saving ratios
  • Bimproved application of technology and new invention
  • Cless certain weather patterns and a fashion for greater consumption
  • Dmore efficient power generation and a reduced birth rate

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