10 Outline one way a consumer might be affected by scarcity.

[Sir Afzal Shad]

10 Outline one way a consumer might be affected by scarcity.
Hint: KN: Consumers have limited income > APP: Cannot afford both a holiday and a new car > AN: They are forced to make a choice.

Possible Structure - 3 Marker
[KN] >> [APP] >> [AN]

[hassanalizafar]

[KN] Scarcity affects consumers because they have limited income.
[AAP]For example, a person may not be able to afford both a holiday and a new car at the same time,
[AN] which shows difficult financial decisions, restricted purchasing power hence living standards fall. As a result consumers are forced to make a choice between alternatives .

Moderator Comment:
> KN is Good 1/1
> APP is Good 1/1
> AN 1: living standards fall 1/3 Elements
> AN: restricted purchasing power is not an impact but same as limited income as mentioned in KN.
> AN: consumers are forced to make a choice between alternatives; this is DEF of opportunity cost, not an impact.

[shamaim shakeel]

[KN] Scarcity means there are limited resources but unlimited wants.
[AAP] For example, a consumer may want to buy both new clothes and a new phone, but only has enough money for one.
[AN+] This forces the consumer to make a choice, give up the next best alternative, and face an opportunity cost.

[Mahnoor satti]

[KN] It may cause limited income for the consumer
[APP] If consumer wants to go on a holiday and also buy a new car, however, due to the limited income he can only buy one. This can cause the consumers purchasing powerto decrease and consumer will feel dissatisfied as their wants are not being fulfil.
[AN] Thus this leads to consumer being forcued to make choices, opporunity cost.

[Uqbah hadeed kayani]

[kn] consumers have limited incomes which may make them choose among alot of options [app] for example one may not be able to afford a holiday and a new car [an] forcing him to choose one over the other which may cause him to waste quite a while on deciding among the two

[Abdullah Mohsin]

[KN]Limited incomes forces consumers to buy limited products
[APP]For example, if a consumer has a limited income, they may only be able to afford basic goods such as rice or bread instead of a variety of food items. This means they are forced to prioritise essential products over luxuries, which restricts their purchasing choices.
[AN]By focusing most of their income on essential goods, the opportunity cost is losing out on comfort and enjoyment from non-essential purchases. This may cause dissatisfaction or frustration, as they cannot access the same lifestyle as consumers with higher incomes.

[Aarib Saad]

(KN)The consumer will have limited options when buying a product.
(APP)For instance, a consumer wants to buy a pair of shoes however due to a decrease in the availability of raw materials such as cotton or leather, there will be less designs available to choose from.
(AN+)Thus, making it so the consumer will not be able to purchase the shoes they want, leading to the customer being less satisfied, worsening standards of living.

[Shaliza khawaja]

(KN)Opportunity cost is the next best alternative forgone when a choice is made during scarcity customers would face this concept a lot
(APP)for example with limited income, a consumer may have to choose between buying a new pair of shoes or eating at a restaurant.
(AN)This reduces there satisfactions as their desires aren’t fulfilled, they constantly have to choose between competing wants Lowering there living standards eventually leading to social inequality

[Muaz Aamir]

KN: Scarcity happens when there are limited resources, so people cannot have everything they want.
AP: For example, if a store runs out of a popular phone, a consumer may have to wait or choose a different model.
AN: This shows that scarcity can limit choices and force consumers to make decisions.
AN+: Understanding scarcity helps consumers prioritize what they really need, avoid wasting money, and plan their purchases better.

[Subhan Zafar]

{KN}Scarcity affects a consumer when they have limited income.
{APP}For instance,A person with a mid income can weather afford buying a car or a house at a the same time period which shows that it makes difficult for consumer to make such financial decesions,which creates a barrier on purchasing of the consumer.
{AN}This decreases their living standard of consumers so the consumers are vulnerable to chose between two items

[abdurrehman waseem]

KN:customers have limited income to meet their unlimited wants
App:For example a consumer has to make a choice between buying a car or going to a holiday
AN:They must sacrifice one option,creating opportunity cost

[Abdul Hadi]

KN: A consumer is affected by scarcity because they have limited income and cannot afford everything they want.
APP: For example a consumer may have to choose between going on a holiday or buying a new car.
AN: This forces the consumer to make trade-offs, may cause opportunity cost as they lose the benefit of the forgone option, and can lead to reduced satisfaction since not all wants are fulfilled.

[Fatima ibtehaj]

[KN]They may be unable to buy basic necessities.
[APP]Necessities like medicine/insolene may become scarce and it can become a problem for old people who have such problems and they cannot survive without them.
[AN]This can lead towards a rise in deaths which will reduce the population hence decreasing potential future workers in the country leading towards a rise in poverty.

[Hajra]

[KN] Scarcity means resources are limited, so people can’t always get everything they want. [AP] For example, if a consumer wants to buy the latest iPhone but stock is limited, they may struggle to get it. [AN] This affects them because they might have to pay a higher price or wait longer to get it or settle for a different product instead.

[areeshasaber]

[KN] Consumers have limited income, so they cannot buy everything they want.
[app] For example, A consumer may want both a holiday and a new car, but cannot afford both.
[an+] They are forced to choose one option, showing how scarcity affects their spending decisions.