Asked by
Nadasia Durant
on Oct 27, 2024Verified
Freshwater is considered a scarce good because:
A) not enough of it is available for all needs.
B) it does not have any uses.
C) scarce goods are not expensive.
D) not enough of it is available for all needs and because it is not expensive.
Scarce Good
A product or resource that is limited in availability compared to the desired demand, leading to competition for its acquisition.
Freshwater
Water with low concentrations of dissolved salts, essential for drinking, agriculture, and many industrial processes.
- Understand the concept of scarcity and its implications for economic decision-making.
Verified Answer
MS
Learning Objectives
- Understand the concept of scarcity and its implications for economic decision-making.