The correct answer is a.
Explanation:
Scarcity refers to the limited availability of resources in relation to the unlimited wants and needs of individuals and society. In the case of college admission, scarcity arises because there are not enough places available in colleges to meet the demand from students who want to enroll.
There are three types of scarcity:
1. Supply-induced scarcity - it occurs when the supply of a particular good or service is not sufficient to meet the demand for it.
2. Demand-induced scarcity - it occurs when the demand for a particular good or service is higher than the available supply.
3. Structural scarcity - it occurs due to a lack of physical infrastructure, technology, or other resources necessary to produce a particular good or service.
In the case of college admission, supply-induced scarcity is the relevant type of scarcity. This is because the number of people who can get into college is lower than the demand from students who want to enroll. It is not a demand-based scarcity because the demand for college education remains relatively constant over time. It is not a structural scarcity because more colleges can be built to meet the demand.