Helium is a gas with a restricted supply. It forms over thousands of years from decaying radioactive rocks. The US government controls 35% of the world’s supply and has been releasing its stocks for sale. Helium is vital in medical scanners. It is also used in party balloons, which some people regard as a wasteful alternative use of a valuable good. Which concepts can be applied to the statement above?
- Ademand and supply, government subsidy
- Bexcess demand, resource allocation
- Cfactors of production, private monopoly
- Dopportunity cost, public sector