Scarcity

question 28

Multiple Choice

Scarcity

• A) is the inability to satisfy all our wants.
• B) leads to higher prices.
• C) applies only to people living in poverty.
• D) is not something that affects very rich people.
• E) used to exist everywhere but has been eliminated in advanced economies.

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Definitions:

Normative Approach

A method or strategy that is based on norms, or standards and values considered to be typical or correct for a specific group.

Brand Purpose

The reason a brand exists beyond making a profit, often reflecting its values and the social or environmental benefit it seeks to provide.

Ethical Framework

A structured set of guidelines or principles designed to guide decision-making and conduct, particularly regarding moral or ethical issues.