Question

Absence of scarcity would mean absence of economics . Explain with logical reasoning

Answer 1

Answer:

Economics is the study of production of goods and services, their distribution in the market, its consumption and other related services. Hence, in the absence of scarcity, it would be logical to think that every product or service would have been obtained from others voluntarily and freely or in exchange.

Answer 2

Explanation:

Nobody's going to work,no production,no costs,no profits,no exchange rates,no trade,simply there would be no need of any of the economic agents,economic concepts.So,no economics would exist. ...

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