Question

Which statement best describe the impact of scarcity

Answer 1

Explanation:

When the consumers pay higher prices for purchasing many items it reflects that there is a scarcity of the product in the market. Prices rise when there is demand in the market and at the time of scarcity the need is there, but supply is less, and the consumer has to pay more.

Answer 2

Answer:

The best sentence to define scarcity is

• A) Governments must try to meet the wants of citizens. The meaning of scarcity, in general, is to want more than you can have. In this regard, scarcity means to want more and more without an end even when there are limited resources to back up the needs.

Explanation:

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