Question

define scarcity and define demand ?​

Answer 1

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – 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.

Answer 2

ScarCity is theproblem where the demand of goods is more than the supply of goods.