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Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional questions. Why does scarcity require choice? What is the cost of a choice? (Site 1)

User Sanbhat
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Answer:

hi

Step-by-step explanation:

Water scarcity is the lack of fresh water resources to meet the standard water demand. Water scarcity can also be caused by droughts, lack of rainfall, or pollution. This was listed in 2019 by the World Economic Forum as one of the largest global risks in terms of potential impact over the next decade.

User Denver Gingerich
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2 votes

Answer:

The shortage requires choice because it causes an economic imbalance, very damaging to the state, and it is necessary that the governors make choices that allow the economic balance to be established, with time.

The price of this choice is usually to allow inflation to rise.

Step-by-step explanation:

Scarcity is an economic term used to describe a time when there is an imbalance between demand and supply within a region. This imbalance is generated when demand is much greater than supply, which causes many economic and even social problems for a country.

In this case, scarcity forces governments and companies to choose, maintain scarcity and try to produce more of the product, or impose that companies increase the price of products by limiting their purchase. However, this allows inflation in the country to increase and the circulation of money to decrease.

User Steve Horn
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