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Producers must consider how limited a resource is when it is used to create an item. The more scarce a resource is, the greater value is given to that resource. It is important to determine if it is necessary to use a scarce resource to create a good, because a less scarce resource could be used instead. This would make it easier to produce a good, but it would give the final item a lower value.
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If their price were zero, the demand for scarce products would be greater than the supply. Economic products have a positive market price as a result of scarcity. That is, customers must pay to obtain them.
When creating an item, producers must consider how restricted a resource is. The higher the value placed on a resource, the more scarce it is. It is critical to establish whether a limited resource is required to make a good, as a less scarce resource could be utilized instead.
For more information regarding the scarcity of resources and goods, refer to the link:
https://brainly.com/question/24371554