Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> What happens when people buy more goods than what they need?

• A. It increases the supply of goods.
• B. It creates a scarcity of goods.
• C. It increases the price of goods.
• D. It decreases the price of goods.

Answer 1

Answer: (B), (C)

It increases the price of goods.

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> As a consumer, we must be considerate of other people's needs and not just our own. For that, we should not buy more than what we need. When people buy more than what they need, it creates a scarcity for others and allows suppliers to charge extra for the limited available goods.