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- Examples of scarcity for kids include123:
- Gasoline during a fuel shortage.
- Goods like gold, oil, and other fossil fuels.
- Overfishing when property rights are non-existent.
- Limited availability of labor.
- Limited supply of land.
- Sharing a pizza with friends or family.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Many people wanted to buy it, but only a certain amount was available. This is a great example of scarcity: Wants are more than what is available. The supply was low. Because the demand was greater than the supply, the gasoline was scarce.www.socialstudiesforkids.com/articles/economics/s…Things that are scarce, like gold, diamonds, or certain kinds of knowledge, are more valuable for being scarce because sellers of these goods and services can set higher prices. These sellers know that because more people want their good or service than there are goods and services available, they can find buyers at a higher cost.education.nationalgeographic.org/resource/scarcity/Scarcity Examples
- 1. Commodities Goods like gold, oil, and other fossil fuels are naturally rare. However, when demand exceeds its supply, it becomes relatively scarce.
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