why a car is an economic good?
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Required Answer:
☑ A car is an economic good because the material and labour used to produce it could have been used to make another good (or goods).
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Explanation:
Economic good provide benefit to the society. Also economic goods have degree of scarcity.
Ca r is economic good because demand for car is higher and it helps in transportation. But material and labour used to produce car can be used to produce some other goods.
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