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Which situation would reduce the scarcity of a product?
Fallen Angel
A foreign country begins exporting the product in high volume.
Fallen Angel
Kylie Love
Ali Mohm
Ali Mohm
coco
Kiersten Stites
lifew ziaa
Kim Dracula
one of only two factories that made the product shuts down
Ap#x Economics 1.1.4
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Which economic condition would most likely cause the price of a product to rise?
scarcity
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
What situation would probably produce a trade deficit for a country?
If a natural disaster created scarcity of a raw material, it could decrease production. If this happens, the country could face a trade deficit and have to import the products.
What does the therm scarcity mean in economics?
Under the broadest meaning, scarcity would mean that there are limits to our resources on this planet. A resource or a commodity that exists as a limited quantity would be said to be scarce.
Would you have to make choices if you had unlimited resources?
unlimited resources would mean that scarcity does not exist. And if scarcity does not exist, then of course, there's no opportunity cost. we can buy anything we want with enough income.
Which economic condition would most likely cause the price of a product to rise?
scarcity
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
What are some synonyms for scarcity?
Synonyms for scarcity would include shortage, lack, inadequacy.Dearth
George Westinghouse developed a product that would be most helpful in which situation?
stopping a rail car
Shortage and Scarcity?
The word scarcity means that something is hard to obtain. For example, one might see, 'In World War 2 there was a scarcity of photographic film in Britain'. Shortage is more commonly used of essentials, especially food.
What situation would probably produce a trade deficit for a country?
If a natural disaster created scarcity of a raw material, it could decrease production. If this happens, the country could face a trade deficit and have to import the products.
