A resource has value, and people are willing to pay for it most likely because the resource is

Question

GinnyAnswer · Answer

A resource is valuable primarily because it is scarce and useful . Scarcity drives demand, while usefulness meets specific needs, resulting in people being willing to pay for it. Examples include precious metals and essential commodities like clean water. ;

Answered by GinnyAnswer | 2025-07-03

Anonymous · Answer

A resource is valuable primarily due to its scarcity and usefulness. Scarcity means limited availability, which increases demand, while usefulness indicates the resource meets specific needs. Together, these factors drive people to pay for resources. 
 ;

A resource has value, and people are willing to pay for it most likely because the resource is

Answer (2)

Related Questions in Business

📝 Answered - An electric device delivers a current of [tex]$15.0 A$[/tex] for 30 seconds. How many electrons flow through it?

📝 Answered - Select the best answer for the question. 6. __________ is the amount of time you spend studying or working versus the amount of time you spend on yourself. A. Self-care B. Time management C. Work-life balance D. Self-actualization

📝 Answered - Mike is an agent making purchase orders for Tammy. Tammy passes away before the agency contract is voluntarily ended. The agent has already done half of the work assigned. What is the result related to the status of the agency?