Question

What does the concept of scarcity explain? Check all that applywhy a product could lose significant value over time.

why people continue to purchase different products.
why consumers are willing to pay high prices for items.
why decisions must be made on how to use resources
why resources can be both renewable and nonrenewable.
why a single resource has more value than another resource.

Answer 1

The 2nd, 3rd, 4th, and 6th statements are true.

Answer 2

your answer is C, D, and F.