Which scenario describes studying for an economics course without applying the scarcity principle?

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24-08-2022
Social Studies

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Which scenario describes studying for an economics course without applying the scarcity principle?

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Tundexi Tundexi · Answer 1 · 2022-08-31T15:21:37+02:00

The scenario that describes studying for an economics course without applying the scarcity principle is "Chloe studies for this course and does nothing else".

What is a scarcity principle?

It is an economic theory in which a limited supply of a good with a high demand for that good results in a mismatch between the desired supply and demand equilibrium.

Hence, in this context, the scenario that describes studying for an economics course without applying the scarcity principle is "Chloe studies for this course and does nothing else".