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Fudgin [204]
4 years ago
7

Why does relative scarcity determine the level of prices in a free-market system

Social Studies
1 answer:
Alexus [3.1K]4 years ago
3 0

Because people tend to pay more for something that isn't easily found in the market. If there is relative scarcity then that means there is high demand for that product, and high price as well.

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