7
QuizMultiple Choice

Resources and Scarcity

Question 7 • SEPHS - SOC240 - Economics (Fall)

A thrifty shopper wants to purchase a new phone that is made with quality parts. What factors should they consider?

Answer
A
High quality phones contain rare earth metals that are a less scarce resource and cost less to the consumer.
B
High quality phones contain rare earth metals that are a less scarce resource and cost more to the consumer.
C
High quality phones contain rare earth metals that are a more scarce resource and cost more to the consumer.
D
High quality phones contain rare earth metals that are a more scarce resource and cost less to the consumer.
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