QUESTION IMAGE
Question
how does scarcity determine the economic value of an item?○ by the amount of goods that are produced○ by the capital required to build the factory○ by the unlimited wants of the consumers○ by the resources consumed in production
Brief Explanations
Scarcity links to economic value via consumer demand: when an item is scarce relative to unlimited consumer wants, its economic value rises. The other options relate to production factors, not the core link between scarcity and value.
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by the unlimited wants of the consumers