Question

How does the scarcity of the resources needed to produce a good affect the supply, demand, or price of that good?
A.
Scarcity of resources increases the supply regardless of price.
B. Scarcity of resources increases the ability to meet the demand for production.
C. Scarcity of resources decreases the ability to meet the demand for production.
D. Scarcity of resources lowers the price of the supply.

Answer 1

A resources scarcity affect the supply, demand or price of that good because its decreases the ability to meet the demand for production.

What is a resources scarcity?

This refers to a situation where demand for a natural resource is exceeding the supply for such resources.

Hence, the effect it brings is that its decreases the ability to meet the demand for production.

Therefore, the Option C is correct.

Read more about resources scarcity

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