Question

Using complete sentences explain three criteria that make resources scarce

Answer 1

A resource must have a finite quantity to be considered. A resource must also be wanted or in demand after that.

Something cannot be rare if there is no desire for it because nobody would want it in the first place.

Name the three elements that affect a resource shortage. For a resource to be deemed rare, it must have a limited supply. After that, a resource must also be desired or in demand.

If there is no demand for something, it cannot be uncommon since no one would ever want it in the first place.

Finally, a resource might be helpful in several different contexts. Why do you think both the wealthy and the poor are impacted by scarcity? Scarcity is the biggest issue the economy is experiencing.

It is brought on by a lack of resources to match public expectations. Everything has a limit.

Wealthy people are impacted by scarcity when they must make choices because they desire more than they can afford, can't be in two positions at once, or both.

Answer 2

For a resource to be scarce, it must be limited in supply. Next, a resource must be desirable or in demand. If something is not in demand, then it cannot be scarce because no one would want it in the first place.

Explanation: just did the test