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This is the condition in which there are not enough resources available to produce everything that individuals demand. O Need O Scarcity O Want O Opportunity Cost

This is the condition in which there are not enough resources available to produce everything that individuals demand. O Need O Scarcity O Want O Opportunity Cost

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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This is the condition in which there are not enough resources available to produce everything that individuals demand. O Need O Scarcity O Want O Opportunity Cost
Transcribed Image Text:This is the condition in which there are not enough resources available to produce everything that individuals demand. O Need O Scarcity O Want O Opportunity Cost
Expert Solution
Step 1: Introduction

Human wants are limitless, yet resources are scarce. It pushes us to make decisions about how to use everything we have, and we are required to be ready to sacrifice certain things in order to obtain others.

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