Question

how can a petty shopper can utilize limited resources and satisfy their needs

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Answer 1

Answer:

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Explanation:

Every individual have unlimited wants but the resources for satisfying the wants are limited. Scarcity is the root of all economic problems. If there has been no scarcity there would have been no economic problem. This can be understood by examples.

1. Achild’s pocket money is limited so he/she has to choose only those things that they want the most. You can’t purchase almost all the things you want.

2. A land available should be put in use either in agricultural or industrial. We can’t use same land for both activities.

Answer 2

A little store can serve their demands fast and effectively, a petty shopper may use limited resources to meet their needs.

Explanation:

• Being a petty shopper entails making a big deal out of minimal resources. The little store has a limited amount of space. It does not need a wider area to be organized.
• A little amount of beginning and operational capital is required for a tiny business, which may be obtained directly by borrowing from relatives taking out a small loan from a microfinance organization.
• The little store has a limited amount of space. Thus a tiny shop may service their requirements efficiently and effectively.