What is the scarcity principle?
A) Most people feel worse about a loss of a given amount than they would feel good about a gain of a similar amount.
B) People tend to focus on losses (or loss avoidance) in making decisions.
C) Alternatives that are acceptable or ''good enough,'' rather than the best possible solutions.
D) Items and opportunities are seen to be more valuable as they become less available.

Question

Quizplus · Accepted Answer

The scarcity principle states that items and opportunities are seen to be more valuable as they become less available. This means that people tend to place a higher value on something if they believe it is rare or in short supply. This principle is often used in marketing and sales tactics to create a sense of urgency or exclusivity around a product or service.

What Is the Scarcity Principle