Question

1. How does scarcity of a resource or product impact the value of that resource/product *

Answer 1

A more scarce product will rise in value since people will demand more of it

Answer 2

Answer:

C. A more scarce  product will rise in value.

Explanation:

Take a look at things such as diamonds.  People, for  whatever reason, love rare things. Be it video games, precious jewelry, or the  McRib sandwich, even though some of these things can be considered not valuable at all. I mean, have you tried a McRib? And also, Starbucks, take note that changing the cup doesn't make it  any special.