Question

explain why a car ia an economic good?​

Answer 1

Answer:

An economic good is a good or service that has a benefit (utility) to society. Also, economic goods have a degree of scarcity and therefore an opportunity cost. ... An economic good will have some degree of scarcity in relation to demand. It is the scarcity that creates a value people become willing to pay for.

Answer 2

$answer$

AN ECONOMIC GOOD IS A GOOD OR SERVICE THAT HAS A BENEFIT (UTILITY) TO SOCIETY. ALSO, ECONOMIC GOODS HAVE A DEGREE OF SCARCITY AND THEREFORE AN OPPORTUNITY COST. ... AN ECONOMIC GOOD WILL HAVE SOME DEGREE OF SCARCITY IN RELATION TO DEMAND. IT IS THE SCARCITY THAT CREATES A VALUE PEOPLE BECOME WILLING TO PAY FOR.

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