Economy, asked by affanahmed786920, 1 month ago

Critically examine the Scarcity definition of Economics ( 2points)

Answers

Answered by parikshit17

Answer:

Scarcity refers to a basic economic problem—the gap between limited resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.

Previous Question

Next Question

Similar questions

Geography, 17 days ago

first female ICC match refers...

Math, 17 days ago

if 4/5th of a number is 20, then what is the twice of that number...

Biology, 17 days ago

A person named Shyam suffered from a severe stroke and since then he became paralytic and was unable to walk. He was undergoing physiotherapy. He needed the help of his family members and a care giver to move around in the house. His mobility was affected to such an extent that he was unable to move his legs completely. [124-4 1) Which tissues got affected in the person mentioned above? (1) Which...

Computer Science, 1 month ago

Write down a program to accept a number and display its first 20 multiples ans fast plis...

Sociology, 1 month ago

Fill in the blanks. (1) Under Swachh bharat, the government aim to stop (1) open defecation (2) open pit (3) open dustbin...

English, 9 months ago

a car runs 15km in one hour. how much distance will it cover after 2 and half hour...

English, 9 months ago

4. How does the spat between the old man's daughters lead to father discovering the truth? wirte near and send very fast ...

Hindi, 9 months ago

MAKE SENTENCE WITH कालियाँ...