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A Roman trader brings 20 ounces of perfume to Rome after his last trip from Arabia. When he reaches
A Roman trader brings 20 ounces of perfume to Rome after his last trip from Arabia. When he reaches
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the market, he meets 30 people who would each like to buy one ounce. He only has enough perfume to sell one ounce to each of 20 people. What is this situation an example of?
Opportunity cost, because the perfume the Roman is offering will produce a good profit
Bartering, because the Roman will be able to give an ounce of the perfume to many people
Scarcity, because the amount of perfume the Roman has is less than then amount that people want
Capital, because the Roman has the chance to charge more for the perfume and make a profit
