Question

Economics is science of scarcity and choice justify

Answer 1

The basic economic problem is that needs and wants are unlimited, but resources are scarce. Scarcity means that resources are limited, and because resources are scarce, people must make choices. Economics is the social science that studies how people use scarce resources to satisfy unlimited needs and wants.

Hope it helps you.......

Answer 2

Answer:

• Economics is sometimes called the study of scarcity because economic activity would not exist if scarcity did not force people to make choices.
• When there is scarcity and choice, there are costs. The cost of any choice is the option or options that a person gives up

Explanation: