The answer is actually True, I just took the test
Businesses can only make a limited number of goods and services.
People have limited wants.
Not everyone's needs are met.
Using scarce resources today means having fewer tomorrow.
The following statement describes the effects of scarcity are-
Scarcity of resources is referred as a situation in which a shortage of goods and services due to increased demand and insufficient supply of products and services within a specified period of time have occurred.
The scarcity in the market is caused by factors like changes in the needs and desires of customers due to which their demands for particular goods have been increased which results in shortage.
The shortage is also caused by a lack of adequate management of resources which disturbs the optimum utilization and may creates waste of raw materials.
This scarcity will result in a limited number of goods and services available in the market and may be in a high price. The customer's demands are not met which led to dissatisfaction among them.
Learn more about scarcity, here:
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Answer:
- Businesses can only make a limited number of goods and services.
- Not everyone's needs are met.
- Using scarce resources today means having fewer tomorrow.
Answer: Mir Qasim
Explanation: did some research, lmk if this is wrong and reply with the correct answer so i can edit!