Kayleen58idn
Answered

Get the information you need from a community of experts on IDNLearn.com. Join our community to receive prompt and reliable responses to your questions from knowledgeable professionals.

what is scarcity and how does it affect consumer in an economic setting? In 2 paragraphs - economics

Sagot :

Ramchandrapoudel632idn

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants.

Explanation:

Scarcity increases negative emotions, which affect our decisions. Socioeconomic scarcity is linked to negative emotions like depression and anxiety. viii These changes, in turn, can impact thought processes and behaviors. The effects of scarcity contribute to the cycle of poverty

We are delighted to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. Accurate answers are just a click away at IDNLearn.com. Thanks for stopping by, and come back for more reliable solutions.