Economics is the study of scarcity. Scarcity exists because the society has unlimited needs and wants but the resources to satisfy these are unfortunately, not unlimited. That is why there is a certain cost to scarce things. The scarcer the thing is, the more its costs. Aside from scarcity, factors like production cost and capital affect the cost of a thing, commonly referred to as a good.
Seems to me that the second option looks as if it were correct. While paraphrasing and summarizing, you are trying to shorten up an original piece of writing. Giving a well developed descriptions of main ideas isn't something to look for in paraphrasing, so that's why the first option is incorrect. In addition, restating basically everything from a text is not called paraphrasing nor summarizing, and that is why I'd rather classify it as copying.
