Question

Which of the following is true? Resources are usually equally valuable in all uses. The price system links markets: if a good becomes more or less scarce, its price will change, and consumers and producers (pursuing their self-interest) will adjust, changing their consumption and production decisions about that and other goods as well. A price change affects only the market in which it occurs and does not have any \"ripple\" effects. As a good/resource becomes scarcer, it should be used only for its least valuable purposes.

          Which of the following is true?
Resources are usually equally valuable in all uses.
The price system links markets: if a good becomes more or less scarce, its price will change, and consumers and producers (pursuing
their self-interest) will adjust, changing their consumption and production decisions about that and other goods as well.
A price change affects only the market in which it occurs and does not have any \"ripple\" effects.
As a good/resource becomes scarcer, it should be used only for its least valuable purposes.

Which of the following is true?
Resources are usually equally valuable in all uses.
The price system links markets: if a good becomes more or less scarce, its price will change, and consumers and producers (pursuing
their self-interest) will adjust, changing their consumption and production decisions about that and other goods as well.
A price change affects only the market in which it occurs and does not have any r̈ippleëffects.
As a good/resource becomes scarcer, it should be used only for its least valuable purposes.

Added by Elizabeth G.

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