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frosja888 [35]
4 years ago
15

An implication of scarcity is that:

Social Studies
1 answer:
attashe74 [19]4 years ago
5 0

Answer:

4. people must make trade-offs.

Explanation:

Scarcity is the shortage of supply with respect to demand. It arises due to unlimited wants contrasted with limited resources - having alternative uses.

Scarcity : Demand > Supply

This leads to trade off (sacrifise) of something to attain anything, since the limited resources are short of unlimited wants & have alternative uses.

Eg : Having fixed money income (analogous to resources) & many commodities in consumption basket (analogous to wants); if one commodity is gained - it would be at the cost of sacrifising (trade off) some other commodity.

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