how does scarcity determine the economic value of an item?\no by the amount of goods that are produced\no by…

how does scarcity determine the economic value of an item?\no by the amount of goods that are produced\no by the capital required to build the factory\no by the unlimited wants of the consumers\no by the resources consumed in production

how does scarcity determine the economic value of an item?\no by the amount of goods that are produced\no by the capital required to build the factory\no by the unlimited wants of the consumers\no by the resources consumed in production

Answer

Answer:

by the unlimited wants of the consumers

Brief Explanations:

Scarcity exists when wants are unlimited relative to resources. Higher consumer wants for a scarce item increase its economic value.