Question

Explain how scarcity is the undercurrent of economics?

Answer 1

Scarcity is our limited sources but unlimited wants. our resources are limited by 4 factors of production: Labour, land, capital and enterprise. The problem of scarcity is that our wants are always beyond what we can produce 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 studied economics either.
IF YOU FIND IT HELPFUL PLEASE MARK IT AS BRAINLIEST ANSWER. ......