well first of all ,i am a student in a college .I studied Business Communication , and i kinda have a problem with my Economic's subject because im still at the beginning of the subject. Anyway i really hope that you could help me ut with this .(posted 8695 days ago)The question is :
1) What is PRICE EFFECT ? Explain this concept with three examples .
2) What is SCARCITY. And how can we overcome this problem?
3) How does the government control and maintain the prices of certain restricted goods and essential goods.
Please answer me as fast as u can ,THANK YOU!