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How does scarcity determine the economic value of an item

By Ian Brian on May 8, 2023

Question:

How does scarcity determine the economic value of an item?

A. By the amount of goods that are produced

B. By the capital required to build the factory

C. By the unlimited wants of the consumers

D. By the resources consumed in production

Answer:

D. By the resources consumed in production

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Ian Brian

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