Helium is a scarce gas because it needs thousands of years to form. The US government owns 35% of the world’s supply of helium and has been selling its reserves. Helium is needed for medical scanners. It is also put into party balloons, which is a wasteful alternative use of a valuable resource. Which two concepts fit this statement?
- Ademand and supply, government subsidy
- Bexcess demand, resource allocation
- Copportunity cost, private monopoly
- Dpublic sector, factors of production