differenciate between growth and scarcity
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A short Difference between Growth And Scarcity..-
Scarcity forces us to choose among alternatives.
Economic growth gives us more to choose from, and raises standards of living.
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sᴄᴀʀᴄɪᴛʏ
sᴄᴀʀᴄɪᴛʏ ɪs ᴛʜᴇ ʟɪᴍɪᴛᴇᴅ ᴀᴠᴀɪʟᴀʙɪʟɪᴛʏ ᴏғ ᴀ ᴄᴏᴍᴍᴏᴅɪᴛʏ, ᴡʜɪᴄʜ ᴍᴀʏ ʙᴇ ɪɴ ᴅᴇᴍᴀɴᴅ ɪɴ ᴛʜᴇ ᴍᴀʀᴋᴇᴛ ᴏʀ ʙʏ ᴛʜᴇ ᴄᴏᴍᴍᴏɴs. sᴄᴀʀᴄɪᴛʏ ᴀʟsᴏ ɪɴᴄʟᴜᴅᴇs ᴀɴ ɪɴᴅɪᴠɪᴅᴜᴀʟ's ʟᴀᴄᴋ ᴏғ ʀᴇsᴏᴜʀᴄᴇs ᴛᴏ ʙᴜʏ ᴄᴏᴍᴍᴏᴅɪᴛɪᴇs. ᴛʜᴇ ᴏᴘᴘᴏsɪᴛᴇ ᴏғ sᴄᴀʀᴄɪᴛʏ ɪs ᴀʙᴜɴᴅᴀɴᴄᴇ.
ɢʀᴏᴡᴛʜ
ᴛʜᴇ ᴀᴄᴛ ᴏʀ ᴘʀᴏᴄᴇss, ᴏʀ ᴀ ᴍᴀɴɴᴇʀ ᴏғ ɢʀᴏᴡɪɴɢ; ᴅᴇᴠᴇʟᴏᴘᴍᴇɴᴛ; ɢʀᴀᴅᴜᴀʟ ɪɴᴄʀᴇᴀsᴇ. sɪᴢᴇ ᴏʀ sᴛᴀɢᴇ ᴏғ ᴅᴇᴠᴇʟᴏᴘᴍᴇɴᴛ: ɪᴛ ʜᴀsɴ'ᴛ ʏᴇᴛ ʀᴇᴀᴄʜᴇᴅ ɪᴛs ғᴜʟʟ ɢʀᴏᴡᴛʜ.
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