What does the concept of scarcity explain? Check all that apply. 1. why a product could lose significant value over time.
2. why people continue to purchase different products.
3. why consumers are willing to pay high prices for items.
4. why decisions must be made on how to use resources
5. why resources can be both renewable and nonrenewable.
6. why a single resource has more value than another resource.

1./3./6. (I recommend you read my explanation)

Explanation:

1. Why a product could lose value over time could lose demand over time relates to supply, demand, and scarcity. Either the supply increases and can fit the demand or there is no demand for it.

3. Why consumers are willing to pay high prices for an item. Someone is only willing to pay a high price for an item if there is little supply and high demand. So for example, is like in a desert with a group of people and bidding over who gets the bottle full of water.

6. Why a single resource has more value than another. Being back to the previous example, in a sandy environment people wouldn't be bidding on who gets the most amount of sand because it's not a scarce resource.

question - in 1827, john walker, a druggist in a small english town, tipped a splint with sulphur, chlorate of potash, and sulphid of antimony, and rubbed it on sandpaper, and it burst into flame. the druggist had discovered the first friction-chemical match, the kind we use to-day. it is called friction-chemical because it is made by mixing certain chemicals together and rubbing them. although walker's match did not require the bottle of acid, nevertheless it was not a good one. it could be lighted only by hard rubbing, and it sputtered and threw fire in all directions. in a few years, however, phosphorus was substituted on the tip for antimony, and the change worked wonders. the match could now be lighted with very little rubbing, and it was no longer necessary to have sandpaper upon which to rub it. it would ignite when rubbed on any dry surface, and there was no longer any sputtering. this was the phosphorus match, the match with which we are so familiar. according the paragraph what was the benefit of the new phosphorus match? it burst into flame when rubbed on sandpaper. it was made by mixing chemicals. it could be ignited on any dry surface. it threw fire in all directions.

answer - matches required natural chemicals