Hkcee 2010 Econ Paper 2 Q2 -

If more than one person wants the same unit of a good, it is scarce.

According to Herman Yeung's analysis , many candidates failed to recognize that "scarcity" doesn't mean a good is "rare"; it simply means there isn't enough to satisfy everyone's unlimited wants. hkcee 2010 econ paper 2 q2

To master this topic for DSE or historical review, focus on these criteria: If more than one person wants the same

Government-provided services (like public parks or roads) are still economic goods because they require taxpayer resources and land that have alternative uses. Revision Tips for Similar Questions hkcee 2010 econ paper 2 q2