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Which of these statements demonstrate the economic concept of scarcity? check all that apply. all useful resources are limited in their supply. everyone is able to meet all their wants and needs the wants and needs of people are unlimited. resources are scarce, which explains why we are willing to pay for them. a large economy is able to eliminate the effects of scarcity. because of scarcity, individuals must make choices?

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wescotr20

Answer:

All useful resources are limited in their supply.

The wants and needs of people are unlimited.

Resources are scarce, which explains why we are willing to pay for them.

Because of scarcity, individuals must make choices.

Explanation:

You forgot one :)

ayfat23

The statements that give clear demonstration as regards economic concept of scarcity are:

All useful resources are limited in their supply.

The wants and needs of people are unlimited.

Resources are scarce, which explains why we are willing to pay for them.

Because of scarcity, individuals must make choices.

  • Scarcity can be regarded as one of  the key concepts when taking  economics.

  • It do occur as a result of increase in the demand for a good/service even though the availability of that particular good/service is low. However, during scarcity people are willing to pay more just to have that particular goods.

Therefore, Scarcity can make the consumers to change their choice of product or services.

Learn more at,:https://brainly.com/question/8351365?referrer=searchResults

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