Economy, asked by harshsg8689, 13 days ago

What evidence is there in the extract of scarcity?

Answers

Answered by ayz00

0

Answer:

Scarcity means that at a zero price the supply of something exceeds its demand. The existence of non-zero prices is the proof of scarcity. This is fairly simplistic, but so long as there are no barriers to entry, suppliers would find it profitable to bid down prices so long as a resource or product is not scarce.

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