In 2014, the Hong Kong Housing Authority said the waiting time for public sector housing had increased and it would only complete 8900 flats of the 15000 planned for the year. The reasons were the shortage of workers because they were needed in other public sector projects, the difficulty of finding land, and government regulations.
Which economic concepts are illustrated in this information?
1 )
a market economy and a lack of resources
2 )
economic planning and the price mechanism
opportunity cost of labour and excess demand
4 )
production possibility and budget deficit
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