Which statement best describes the impact of scarcity? People are able to meet most of their needs. Consumers must pay higher prices for many items. Governments must try to meet the wants of citizens. Economies can work to provide more goods and services.

The best way to describe the impact of scarcity would be when consumers must pay for higher prices for many items. This is a situation where there are unlimited wants have fully exceeded all of the limited resources. The limited resources are not capable of fulfilling the wants by consumers. This is considered to be one of the basic economic problems in the world.

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azikennamdi azikennamdi · Answer 2 · 2022-02-02T13:20:05+01:00

The best description of scarcity in the option given below is that it occurs when people must pay higher prices for a lot of items.

What is Scarcity?

Scarcity refers to an economic condition where the items that people require are not easily obtainable or in short supply.

When there is a shortage in the supply of goods especially daily needs, the prices of those items go up . This is why people pay more during periods of scarcity.

The correct answer, therefore, is B.

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https://brainly.com/question/3493919