Question

PLZ help

Answer 1

Answer:

Resources are limited.

Production requires resources.

Everyone wants or needs goods.

Explanation:

Different regions provide different resources that people can use for their business. People in that region need to understand the type of resources that are available for them and produce the goods that can be sustained by the available resource.

This scarcity means that acquiring resources require a certain amount of capital. Since people do not unlimited capital, they have to be picky with their consumption/production to ensure the ones with highest priority are fulfilled first.

On top of that, everyone wants or needs goods. Meaning that in order to obtain a certain resources, people will have to face competition. As the competition become more fierce, the sacrifice that is needed to obtain a certain product is increased. This is also why they have to watch out which product they should choose to consume.