Question

How does scarcity affect your life? Be specific. Provide a real-life example.

Answer 1

Answer:

Scarcity, or the lack of sufficient resources, affects virtually all aspects of life, as people must constantly acquire wealth to pay for needs that are in short supply. ... Without scarcity, goods and services have no value because they are abundant. Scarce items are said to be at low supply.

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Answer 2

Explanation:

scarity leads to the law of supply and demand which underpins all material transactions. scarati sets of the entire Framework for modern economics. if the world had more food for example than necessary to feed every man woman and child it would be relatively easy to convince people to provide some