Question

Scarcity is important to economics because it:

A. increases government control over an economy.

B. leads to lower prices for goods and services in a country

C. forces consumers to make choices about what to buy D. ensures that a country will experience economic growth.

D. ensures that a country will experience economic growth.

Answer 1

Scarcity is the limited availability of commodity which may be in demand in the market or by the commons. Scarcity also includes an individual’s lack of resources to buy commodities. The opposite of scarcity is abundance

I hope this help out a little