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Scrat
2 months ago
13

Which of these statements demonstrate the economic concept of scarcity? check all that apply. all useful resources are limited i

n their supply. everyone is able to meet all their wants and needs the wants and needs of people are unlimited. resources are scarce, which explains why we are willing to pay for them. a large economy is able to eliminate the effects of scarcity. because of scarcity, individuals must make choices?
Business
2 answers:
Katen [3.5K]2 months ago
7 0
The statements below illustrate the economic principle of scarcity:
1. All valuable resources have limited availability.
2.Resources being scarce explains why we are willing to spend money on them.
3. Due to scarcity, people are compelled to make choices.
Scarcity in economics examines how individuals strive to fulfill their needs and desires through decision-making. The scarcity principle posits that limited goods and services exist to satisfy limitless wants.
Scilla [3.8K]2 months ago
4 0

Response:

All valuable resources are limited in their availability.

The desires and requirements of individuals are limitless.

Resources are scarce, which clarifies our willingness to pay for them.

Individuals must make choices as a result of scarcity.

Clarification:

You missed one:)

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