SOCIAL PSYCHOLOGY
ATTRIBUTION ATTITUDES AND ACTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You shouldn’t accumulate money
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You don’t deserve wealth
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Saving for retirement is the only reason to save
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You should spend rather than save
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Detailed explanation-1: -A scarcity mindset is when you are so obsessed with a lack of something-usually time or money-that you can’t seem to focus on anything else, no matter how hard you try.
Detailed explanation-2: -Societies can deal with scarcity by increasing supply. The more goods and services available to all, the less scarcity there will be. Of course, increasing supply comes with limitations, such as production capacity, land available for use, time, and so on. Another way to deal with scarcity is by reducing demand.
Detailed explanation-3: -Scarcity forces all of us to make choices by making us decide which options are most important to us. The principle of scarcity states that there are limited goods and services for unlimited wants. Thus, people need to make choices in order to satisfy the wants that are most important to them.
Detailed explanation-4: -The scarcity principle is an economic theory that explains the price relationship between dynamic supply and demand. According to the scarcity principle, the price of a good, which has low supply and high demand, rises to meet the expected demand.