kayleen58
Answered

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what is scarcity and how does it affect consumer in an economic setting? In 2 paragraphs - economics

Sagot :

ramchandrapoudel632

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants.

Explanation:

Scarcity increases negative emotions, which affect our decisions. Socioeconomic scarcity is linked to negative emotions like depression and anxiety. viii These changes, in turn, can impact thought processes and behaviors. The effects of scarcity contribute to the cycle of poverty

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