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If a product is scarce, meaning you have more 'buyers' than product the price will usually go up somply because some people will offer more to get their hands on the limited supply.
Wiki User
∙ 8y ago
Wiki User
∙ 13y agoThe price of the goods goes up.
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When an item becomes scarce how is the cost affected?
the price goes up
How do scarce resources influence you personally?
Black Friday is a perfect example of how people react to scarce resources. They become overtly violent, protective of their space, and will hoard the smallest item.
What effect does advanced technology usually have on the cost of each item produced by a business?
The cost of each item decreases.
Is replacement cost the same as insurable value?
No, insureable value or 'stated amount' is the MAXIMUM that will be paid for that item. replacement cost is the amount it will cost to actually replace the item.
What are the three basic economic decisions?
the need of somthing or if the countries work together and arent against each other and if the item or product is scarce
When an item becomes scarce how is the cost affected?
the price goes up
What happens to the cost when an item becomes scarce?
goes up
When an item becomes scarce how is the cost effected?
goes up
In economics what clue tells you if an item is more scarce than another item Give an example?
i don't know the answer that's too bad
How do scarce resources influence you personally?
Black Friday is a perfect example of how people react to scarce resources. They become overtly violent, protective of their space, and will hoard the smallest item.
An item cost 20.00 with 25 percent off what is the cost of the item?
16
How is society affected by the element argon?
The element argon has affected society because it has created things such as electric lightbulbs and floresant tubes. Lightbulbs are the most commonly used item that is made with argon.
What would the item cost if it were on sale for25 percent off?
Multiply the cost by 0.75 and that is the sale cost of the item.
How much will your item be it it cost 200.00 and you get 15 percent off?
The item will cost 170.00
What is considered the net cost?
The net cost of an item is the cost of the item after any discounts or returns and before any tax
How do you find the total cost of a item with tax?
First you calculate the amount of the tax on the item. Then you add together the original cost of the item and the tax.
In performing a vertical analysis the base for cost of goods sold is?
The base for any item in a vertical analysis is Net Sales. This is because you are dividing the item, in this case the cost of goods sold, by the net sales to figure the percentage.
