Question

differenciate between wealth and scarcity​

Answer 1

Wealth of Nations" published in 1776 Smith defines economics"as a since of Wealth". That to say, it is an inquiry into the nature and cause of wealth of nations. According to Adam Smith acquisition of wealth is the main aim of human activity. ... His definition is popularly known as scarcity definition of economics.

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Answer 2

Answer:

ᴀ ᴡᴀɴᴛ ɪs sᴏᴍᴇᴛʜɪɴɢ ʏᴏᴜ ᴡᴏᴜʟᴅ ʟɪᴋᴇ ᴛᴏ ʜᴀᴠᴇ, ʙᴜᴛ ɪᴛ ɪs ɴᴏᴛ ɴᴇᴄᴇssᴀʀʏ ғᴏʀ ʏᴏᴜʀ sᴜʀᴠɪᴠᴀʟ. ... ᴄʜɪʟᴅʀᴇɴ ᴀʟsᴏ ɴᴇᴇᴅ ᴛᴏ ᴜɴᴅᴇʀsᴛᴀɴᴅ ᴛʜᴇ ᴄᴏɴᴄᴇᴘᴛ ᴏғ sᴄᴀʀᴄɪᴛʏ, ᴡʜɪᴄʜ ᴍᴇᴀɴs ᴛʜᴇʏ ʜᴀᴠᴇ ᴜɴʟɪᴍɪᴛᴇᴅ ᴡᴀɴᴛs ᴀɴᴅ ʟɪᴍɪᴛᴇᴅ ʀᴇsᴏᴜʀᴄᴇs ᴛᴏ ᴍᴇᴇᴛ ᴛʜᴏsᴇ ᴡᴀɴᴛs. sᴄᴀʀᴄɪᴛʏ ʀᴇǫᴜɪʀᴇs ᴘᴇᴏᴘʟᴇ ᴛᴏ ᴍᴀᴋᴇ ᴄʜᴏɪᴄᴇs.

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