Helium is a gas with a scarce supply because it needs thousands of years to be formed. The US government owns $35\%$ of the world’s supply of helium and has been selling off its stocks. Helium is vital for medical scanners. It is also used in party balloons, which is a wasteful alternative use of a valuable good. Which two concepts apply to this statement?
- Ademand and supply, government subsidy
- Bexcess demand, resource allocation
- Copportunity cost, private monopoly
- Dpublic sector, factors of production