Absence of scarcity would mean absence of economics.explain with logical meaning
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Economy runs on 2 important aspect one is Demand and Other supply .
Let us take a hypothetical situation - A city population with a habit of inculcating non veg food , and there are two kind of farmer one whose raise livestock do poultry work where as other grow fruits and vegetables .
Taking the year with good monsoon Rainfall , farmer grows surplus amount of vegetable say rice and he goes to market to sell , but nobody is eager to buy the crop.
Now we move to 1st farmer he raised animals like goat , chickens and also collected eggs in a fixed proportion or number and he sells it at high profit .
Analysing the above scenario , we found since there was surplus rice production even though nobody wanted it and while eggs were limited but earned a huge profit reason is demand as population of city loves to eat meats and eggs hence high demand fixed supply but high economy while no scarcity but no demand no economy ..
I hope you got it ..
Let us take a hypothetical situation - A city population with a habit of inculcating non veg food , and there are two kind of farmer one whose raise livestock do poultry work where as other grow fruits and vegetables .
Taking the year with good monsoon Rainfall , farmer grows surplus amount of vegetable say rice and he goes to market to sell , but nobody is eager to buy the crop.
Now we move to 1st farmer he raised animals like goat , chickens and also collected eggs in a fixed proportion or number and he sells it at high profit .
Analysing the above scenario , we found since there was surplus rice production even though nobody wanted it and while eggs were limited but earned a huge profit reason is demand as population of city loves to eat meats and eggs hence high demand fixed supply but high economy while no scarcity but no demand no economy ..
I hope you got it ..
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