Answered

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Which object is likely to have the most value based on the concept of scarcity?

A. A flowering plant
B. A silver necklace
C. A new coffee table
D. A crop of oranges

Sagot :

GinnyAnswer

Final answer:

Scarcity plays a significant role in determining the value of goods in economics, with limited resources and unlimited wants influencing decision-making.


Explanation:

Scarcity is a fundamental concept in economics that refers to limited resources and unlimited wants.

In the context of the question, the orange crop is likely to have the most value based on scarcity because the production of oranges involves effort, time, and resources, making them relatively scarce compared to the other options.

Factors like the effort involved in harvesting oranges and the limited availability of orange trees contribute to their higher value due to their scarcity.


Learn more about Scarcity and Economic Value here:

https://brainly.com/question/27568233


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