0

Subjects>Business>Economics

When there is a scacity in availability of raw material what happens to the consumer price?

Anonymous

∙ 10y ago

Updated: 8/23/2023

The price goes up on materials that become scarce. Some, like gas, go up and down in response to price futures, political or economic policy. The gas can be stored at a low price but you will pay the price determined by the prevailing price at present.

Wiki User

∙ 10y ago

What else can I help you with?

Continue Learning about Economics

Why are scacity and choice basic to the study of economics?

Scarcity and choice are fundamental to economics because they highlight the limited nature of resources relative to unlimited human wants. Scarcity forces individuals and societies to make choices about how to allocate resources effectively, leading to trade-offs. These decisions impact production, consumption, and overall economic efficiency, making them essential for understanding economic behavior and policy. Ultimately, the interplay of scarcity and choice shapes market dynamics and influences economic outcomes.

Related Questions

How is scacity used?

I don't think that 'scacity' is even a word. Dictionary.com does not think it is. Neither does Word or even the wiki.answers.com editor

Does scacity means shortage?

Scarcity means shortage.

What is the most pressing concern for the people and governments of the Middle East?

Water scacity

Why is scacity a problem that economists related to economy?

It means only a limited amount of items has been produced therefor limit of goods and services will be produced

I know that an original GI Joe would be worth a ton of money, but is there any chance that a action figure I buy for my son will be worth something some day?

That depends on certain factors. These factors include scacity of the products, demand for the product, is the product in good shape, and is the product a popular figure that has value? These are simple questions but there are many more. Check with your local comic book store or toy dealer for more information.

Trending Questions

How much is one euro more than a dallor? What is hunger and poverty? What are the sub-discipline of microeconomics? Do australians have to exchange currency in order to trade with other countries? What are the reasons for Indian economy slowdown? Why are goods and services categorized in two ways? What is the worth of a steel or silver 1908 US penny? What is 10000 On Bin Turk Lirasi 1970 worth? How do you say bad economy in French? What is field of specialization? How does the change in interest rates affect the foreign exchange market. Can anyone explain with the demand supply curve? What is the definition and function of quotation in business document? Is the US able to compete globally because of its diverse population? What is a 2001 silver buffalo dollar worth? What is macro and micro concepts of productivity? Why government try to reduce income tax? What are the Factors that influence the level of money supply? What effect can an entrepreneur have on a business? What was the economy like in Pennsylvania in the 1600's? What is the proper amount of money to obligate at the award of a firm fixed-price contract?

Resources

Top Categories

Product

Company

Copyright ©2025 Answers.com. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.