Hello. You did not show the title of the article you are referring to, but we can say it affects the financial choices of individuals because they will have to make concessions and give up some products to guarantee the purchase of essential products.
Explanation:
When a population is facing product shortages, the economic decisions of individuals are strongly impacted. This is because each consumer must make concessions to buy the products they need and which are essential for survival. Often due to scarcity, these products are of lesser quality, but serve to supply those in need. In other words, consumers will have to allocate their financial resources to products they need, giving up, often with higher quality products and unnecessary products.
What the study found was that context mattered more to people with high incomes. They were willing to pay more for a sandwich at a fancy hotel than the same sandwich at a small grocery store. People with low incomes, on the other hand, had a specific amount they were willing to pay for a sandwich regardless of the location. Those people cared more about the sandwich’s value, rather than the context of the purchase. For example, instead of choosing which shirt to buy based on the store, people dealing with scarcity would have to decide whether to pay for a shirt or for gas or for tomorrow’s lunch.
The type of account that has very high liquidity, low
interest or no interest at all with a low minimum balance is checking account.
The checking account is usually the ones used by a company because of different
purposes and it has the following functions which are mentioned above. Making
it easier and reliable for them to use.
It was the first real battle in the revolution. Even though the British won, the patriots got a boost of self confidence, getting determined that they could fight the war.
