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Which product would be considered scarce?
One example of a product that would be considered scare would be Diet Cola with lemon in it.
Why would the price of a product made with scarce natural resources tend to be high or low?
High.
When an item because scarce how is the cost affected?
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.
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
What is a list of five products and services that are scarce and rank them in order of importance Discuss the relationship of scarcity to the price of a product?
Do the assignment yourself you stupid fail.
How do you use scarce in an example sentence?
When a product is Scarce, it is more Expensive.
Which product would be considered scarce?
One example of a product that would be considered scare would be Diet Cola with lemon in it.
How can you tell the food you eat from the refrigerator is scarce?
I can tell whether the food from my refrigerator is scarce depending on how available the product is to me by ascertaining whether it's consistently in stock at stores.
Why would the price of a product made with scarce natural resources tend to be high or low?
High.
When an item because scarce how is the cost affected?
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.
Do firm need a strategy?
yes - unless they have a monopoly of a scarce and popular product- as do other organisations, entrepreneurs etc
When there is one scarce resource the product that should be produced first is the product the with highest?
marginal utility. By producing the product with the highest marginal utility first, the producer can maximize the overall benefit generated from the limited resource.
Do firms need a marketing strategy?
yes - unless they have a monopoly of a scarce and popular product- as do other organisations, entrepreneurs etc
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
What is a list of five products and services that are scarce and rank them in order of importance Discuss the relationship of scarcity to the price of a product?
Do the assignment yourself you stupid fail.
What part of speech is scarce?
Scarce is an adjective.
What is the role of the price system?
In economics, a price system determines the allocation of scarce resources and induces supply to respond to change in demand. It also rations out scarce product, indicates change in want, is in use in the production of goods and services, and determines the reward factors of production.
