How does scarcity affect customers? (1 point) Responses Limited time prevents customers from making decisions. Limited time prevents customers from making decisions. It encourages strong economic growth It encourages strong economic growth Limited wants and needs limit customers to small purchases. Limited wants and needs limit customers to small purchases. Limited money and resources forces consumers to make choices.
Limited money and resources force consumers to make choices.
Limited money and resources forces consumers to make choices.
Scarcity affects customers in several ways. First, limited time can prevent customers from making decisions. When there is a sense of urgency or a deadline, customers may feel rushed and make impulse purchases without fully considering their options.
Second, scarcity encourages strong economic growth. When there is a limited supply of certain goods or services, it creates a high demand, which can lead to increased production and investment in those areas. This can stimulate economic growth and innovation.
Third, limited wants and needs can limit customers to small purchases. When resources are scarce, customers may only be able to afford or prioritize certain items or services over others. This can limit their choices and result in smaller purchases or less frequent purchases overall.
Lastly, limited money and resources force consumers to make choices. When customers have limited financial resources, they must prioritize their spending and make trade-offs between different options. Scarcity necessitates that customers carefully consider the value and importance of each purchase, as they cannot obtain everything they desire.
Overall, scarcity can impact customers by limiting their time, choices, wants, and financial resources. Understanding the effects of scarcity on customers can help businesses and individuals make informed decisions about their offerings and purchases.