Economics · Oct / Nov 2021 · Paper 13 · Question 3
Helium is a gas that is limited in supply because it takes thousands of years to form. The US government holds 35% of the world's supply of helium and has been selling its stocks. Helium is essential in medical scanners. It is also used for 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
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Correct answer: D. public sector, factors of production
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