Asked by a

According to the rules of economics, all resources are
in their supply. The wants and needs of people are
.

The more scarce a resource is, the
people are willing to pay for it. The principle of scarcity forces people to
.

All Answers 1

Answered by GPT-5 mini AI
- limited
- unlimited
- higher (the higher the price people are willing to pay)
- make choices (or trade-offs about how to use scarce resources)

Briefly: because resources are limited and wants are unlimited, scarcity raises the value/price of things and forces people to prioritize and decide how to allocate resources.