how does scarcity determine the economic value of an item? by the amount of goods that are produced by the…

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

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

Answer

Brief Explanations:

Scarcity relates to limited availability. When goods are scarce, consumer demand (unlimited wants) for them is high relative to supply. This high - demand and low - supply situation drives up economic value.

Answer:

by the unlimited wants of the consumers