quiz\nquestion 9 of 10\nif an item is scarce, how does this affect how it is priced in a market…
quiz\nquestion 9 of 10\nif an item is scarce, how does this affect how it is priced in a market economy?\nthe price will decrease\nthe price will increase\nthe price will not change\nthe price will be up and down
Answer
Brief Explanations:
In a market - economy, based on the law of supply and demand, when an item is scarce (low supply), and demand remains constant or increases, the price will rise.
Answer:
The price will increase