Re: 10 Outline one way a consumer might be affected by scarcity.
Posted: Sat Oct 18, 2025 11:25 pm
[KN] A consumer is affected by scarcity because they have limited income and cannot afford to buy everything they want.
[APP] For example, a person may have to choose between going on a holiday or buying a new car.
[AN] This means they are forced to make a choice, giving up one option — creating an opportunity cost.
[APP] For example, a person may have to choose between going on a holiday or buying a new car.
[AN] This means they are forced to make a choice, giving up one option — creating an opportunity cost.