Paper 1 May/June 2007 Economics (0455/03) IGCSE

Helium is a gas that is limited in supply. It takes thousands of years to form from decaying radioactive rocks. The US government holds 35% of the world’s supply and has been selling its stocks. Helium is essential in medical scanners. It is also used for party balloons which some say is a wasteful alternative use of a valuable good.
Which concepts can be applied to the above statement?