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April 20, 2014

Homework Help: economics

Posted by adrina on Friday, January 20, 2012 at 7:40pm.

While shopping you discover that your favorite department store has lowered the price on a hot, new MP3 player that you wanted to buy. You rush into the store, only to find that they are sold out. This scenario illustrates the concept of
a) scarcity
b) shortage

Im confused !

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