I am learning about scarcity in my SS 6th grade and I am unsure about this question.
Which sentence best tells the effect of scarcity on economics?
A. Scarcity shapes decisions about how to distribute goods
B. because resources are scarce consumers buy fewer goods
C. Scarcity makes people work harder to make more money
D. The existence of scarce resources forces people to make choices
I know that scarcity is a state in which human wants are greater than resources available to fill those wants but the above sentences are confusing me.
wooooow
Can't someone just give the Connections Academy answers?
This is a confusing question. We're looking at how scarcity affects economics (money). I think B. is the best answer. People buy fewer of the scarce resource; thus less money is spent.
Understanding the concept of scarcity is essential in learning about economics. Scarcity refers to the condition where there are limited resources available to fulfill unlimited human wants and needs. Let's analyze each option to determine the best answer:
A. Scarcity shapes decisions about how to distribute goods: This sentence accurately describes how scarcity influences the decision-making process regarding the allocation of goods. When resources are scarce, individuals, businesses, and governments are forced to make choices and prioritize the distribution of goods.
B. Because resources are scarce, consumers buy fewer goods: This sentence reflects the impact of scarcity on consumer behavior. When resources are limited, consumers cannot obtain all the goods they desire and are typically restricted in their purchasing power.
C. Scarcity makes people work harder to make more money: Though scarcity may motivate individuals to work harder to improve their financial standing, this option does not directly address the effect of scarcity on economics as a whole.
D. The existence of scarce resources forces people to make choices: This option accurately highlights the fundamental impact of scarcity on decision-making. When resources are scarce, individuals are compelled to make choices regarding how those resources are utilized.
Considering these explanations, the sentence that best explains the effect of scarcity on economics is A. Scarcity shapes decisions about how to distribute goods. It encompasses the underlying principle that scarcity influences the allocation and distribution of limited resources.