Scarcity implies that: consumers would be willing to purchase the same quantity of a good at a higher price. it is impossible to

Question

const2013 [10]

3 years ago

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Scarcity implies that: consumers would be willing to purchase the same quantity of a good at a higher price. it is impossible to

completely fulfill the unlimited human desire for goods and services with the limited resources available. at the current market price, consumers are willing to purchase more of a good than suppliers are willing to produce. consumers are too poor to afford the goods and services available.

Social Studies

1 answer:

muminat · Answer 1 · 2022-06-24T13:19:19+03:00

Answer: it is impossible to completely fulfill the unlimited human desire for goods and services with the limited resources available

Explanation:

Scarcity of something according to Oxford dictionary means that there isn't enough of that thing ; there is a shortage .

Scarcity of resources also means there are not enough goods and services to cover everyone available.

Population increase and the increase of human desires can play a big role in this , people demand more and more on such that this lead to deprivation because they keep wanting more and more and there is no limit to how much one can have .

Our desires accompanied with an increase in population has put so much demand on resources in such that there is not enough to fulfill our unending, increasing desires .