2.1.2 Name any basic need of the household from the images above. 2.1.3 Briefly describe the term scarcity. 2.1.4 Explain why everyone, irrespective of income, faces an opportunity cost. 2.1.5 How does scarcity affect the choice of consumers?

Let's address each of your questions step by step: ### 2.1.2 Name any basic need of the household from the images above. Since I cannot see the images, I will provide a general answer. A basic need of a household typically includes essentials such as food, water, shelter, clothing, and healthcare. For example, food is a fundamental need as it is necessary for survival. ### 2.1.3 Briefly describe the term scarcity. Scarcity refers to the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It means that there are not enough resources available to satisfy all the desires and needs of individuals and society. Scarcity forces individuals and societies to make choices about how to allocate their limited resources effectively. ### 2.1.4 Explain why everyone, irrespective of income, faces an opportunity cost. Opportunity cost is the value of the next best alternative that is forgone when a choice is made. Everyone faces opportunity costs because resources (such as time, money, and effort) are limited. Regardless of income level, when individuals make decisions—such as spending money on one item instead of another or choosing to spend time on one activity over another—they must consider what they are giving up. For example, a wealthy person choosing to buy a luxury car instead of a vacation is still facing an opportunity cost, as they are forgoing the enjoyment and experiences of the vacation. ### 2.1.5 How does scarcity affect the choice of consumers? Scarcity affects consumer choices by forcing individuals to prioritize their needs and wants. When resources are limited, consumers must make decisions about what to purchase based on their preferences, budget constraints, and the availability of goods and services. This often leads to trade-offs, where consumers must decide which items are most important to them and which they can do without. As a result, scarcity drives competition for resources and influences market prices, ultimately shaping consumer behavior and consumption patterns.