question 13 - essay/short answer what impact does scarcity have on consumers? be specific word limit 0/150
question 13 - essay/short answer what impact does scarcity have on consumers? be specific word limit 0/150
Answer
Brief Explanations:
Scarcity forces consumers to make choices due to limited resources. They must prioritize needs and wants, and may face higher prices. It also leads to competition among consumers for scarce goods and services.
Answer:
Scarcity makes consumers prioritize, face higher - prices, and compete for goods and services. Limited resources mean they must choose which needs and wants to satisfy.