1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Airida [17]
2 years ago
15

How does scarcity determine the economic value of an item?

Social Studies
1 answer:
Zina [86]2 years ago
3 0

Scarcity determines the economic value of an item by the amount of goods produced.

<h3 /><h3>What is economic scarcity?</h3>

It corresponds to a context where there is a greater demand than supply for a good or service, generating an economic imbalance.

Therefore, in a situation of scarcity, consumers' desires may be limited, leading to higher prices and reduced purchasing power.

Find out more about scarcity here:

brainly.com/question/3081250

#SPJ1

You might be interested in
One of the traditional areas of study regarding federalism has been in the field of what form of grant program
Maslowich
I believe the answer is <span>Cooperative federalism
</span><span>Cooperative federalism refers to a concept that tried to bring all levels of the Government and members of the society to work hand in hand in order to accomplish a common goal. This type of federalism became the basis principle of FDR's New deal programs.</span>
5 0
3 years ago
Name two countries in which industrialization get an early start ?
bogdanovich [222]
Britain and Belgium were the first countries to undergo an industrial revolution primarily because natural resources, such as coal, were available, as was a work force already organized into trade unions.<span>
</span>
5 0
3 years ago
Although most regions of Europe are industrialized and highly developed, some people do not receive adequate nutrition because o
ziro4ka [17]

the answer your looking for is true

7 0
3 years ago
Read 2 more answers
you and a co-worker enter the restroom and find an unconsious person lying on the floor. You size up the scene and then you chec
Yakvenalex [24]

Answer:

kill him steal his money!

Explanation:

8 0
4 years ago
Read 2 more answers
8
frutty [35]

Answer:

Free trade agreements significantly decrease transaction costs leading to a

decrease in the cost of international goods and services.

Explanation:

Given that the primary purpose of the Free Trade Agreement is to lessen the impediments that often make the business transaction between two or more countries difficult or expensive, thereby leading to lower cost of international commodities and improved economic integration among the countries involved. For example removal of trade tariffs and trade quotas.

Hence, Free trade agreements increase globalized trade because "Free trade agreements significantly decrease transaction costs leading to a decrease in the cost of international goods and services."

6 0
3 years ago
Other questions:
  • What best explains the population growth that is shown in states such as california, south carolina, texas, and georgia?
    7·1 answer
  • Evaluate the impact/effects of fraud and corruption on a country
    14·1 answer
  • Why was rationing so important?
    10·1 answer
  • Thomas Hobbes believed that citizens must __________ in exchange for order?
    15·2 answers
  • One of the benefits that some people receive simply by being part of the dominant group in the U.S. is called:_________
    12·1 answer
  • Freud believed that we engage in various defense mechanisms to reduce our anxiety. One day a 10-year-old named Sally is talking
    9·1 answer
  • What was Tiberius’ point of view concerning the soldiers of the Roman army?
    7·1 answer
  • How did Spain develop a national identity?
    12·1 answer
  • I’m doing a gender inequality project. What are some examples of gender inequality in today’s society?
    15·1 answer
  • Why did senator henry cabot lodge oppose u. S. Membership in the league of nations?.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!