When economists say scarcity, they mean: there are only a limited number of consumers who would be interested in purchasing goods. the human desire for goods exceeds the available supply of time, goods and resources. most people in poorer countries do not have enough goods. goods are so expensive that only the rich can afford it.

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: