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It will make it expensive.
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∙ 10y ago
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How does scarcity impact economic decisions?
Supply and demand. When the supply is low the price usually goes up.
How does supply affect price?
Short supply generally results in price increase.
What effects supply and demand?
Fluctuations in the price of goods. The affect of demand on price is directly proportional and supply's affect on price is indirectly proportional.
What is Scarcity and Choice?
scarcity is a situation when demand for a good exceeds its supply even at a zero price and choice is a consequence of scarcity. choice emerges when limited resources are to be used for satisfaction of unlimited wants.
How does scarcity affect price of a product?
The scarcer an object is, the greater the price people will pay to own that object. For instance, after a bad wheat harvest, the price of flour and bread will rise. When a bumper harvest of apples causes a glut, the price of apples will be lowered.
How did supply and demmand effect the price of cattle?
Hoe did supply and demand affect the price of cattle
What happens when supply is greater than demand?
The price declines until demand increases.
How does the price affect the supply of commodity?
Normally it's the other way 'round, the supply of a commodity determines the price. I assume if the price were out of line with the supply a lower price would decrease supply and a higher price would increase supply if increasing the supply were possible.
How do new cars affect the price of gas?
If the reason for the price of gas increasing is shortage of supply, then making new cars with smaller engines might be a good idea
What does scarcity of resources mean in economics?
There is not enough of something (supply) to meet the demand. This prdonarily means that the price of that commodity will rise.
How the non price price factors affect demand and supply?
By doing the factors..
What factor affect price?
What factors usually affect pricing?
