Economy, asked by Lakshayanand054, 1 year ago

Explain how scarcity is the undercurrent of economics?

Answers

Answered by Anonymous
197
Scarcity is our limited resources but unlimited wants. Our resources are limited by the 4 factors of production - land, labour, capital and enterprise.
The problem of scarcity is that our wants are always beyond what we can produce with our resources.
Scarcity is the root of all economic problems. Had there been no scarcity of resources, there would have no economic problems and we would not have studied economics either.


Anonymous: if u like it mark as brainliest
Answered by surinderpahuja
5

Answer:

please see attachment sheet

Hope It Helps You....

Attachments:
Similar questions