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which statement best describes the impact of scarcity

  1. People are able to meet most of their needs. 
  2. Consumers must pay higher prices for many items. 
  3. Governments must try to meet the wants of citizens. 
  4. Economies can work to provide more goods and services.

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The Best Answer for which statement best describes the impact of scarcity?

When the consumers pay higher prices for purchasing many items it reflects that there is a scarcity of the product in the market.

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