5. How does scarcity affect customers? Which TWO are examples of scarcity affecting customers?
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2 points
A scarcity of Lysol wipes at the beginning of the pandemic may increase the price of this product for consumers.
Limited time prevents customers from making decisions
Limited numbers of producers force customers to be loyal
A scarcity of Lysol wipes at the beginning of the pandemic may limit how much of the product consumers may purchase (ie. 2 per household)
A scarcity of a popular toy during the holiday season may result in customers lining up for hours or camping outside stores in order to purchase it.
A scarcity of housing in certain areas may force customers to pay higher rent or seek alternative living arrangements.