A company released a new video game system just in time for Christmas and many stores quickly sold out. Although the price of th
e system was only $350, they sold for over $2,000 on an online auction site. Which of the following economic principles best explains this event? People respond to incentives because of self-interest.
The value of some objects increases relative to other objects.
The answer would be 'competition among consumers increases prices' because if there was a limited amount, if someone really wants that game, they'd pay more than usual when supplies sold out.
The answer to the question that is being presented above would be 'Great Depression'. <span>I Stand Here Ironing was set in the historical context of The Great Depression. However, it had little background on the context of World War II.</span>
