Question

explain scarcity definition of economics & characteristics​

Answer 1

Answer:

hellow

The means refer to goods and services which we use to satisfy our wants. They are material and non- material goods like time, money, services, resources etc. These resources are scarce. Here the term scarcity is used not in the absolute sense but in the relative sense i.e., in relation to demand.

I hope this helps you

Answer 2

youn answer here this situation requirs pople to make decusion about how all to allocate resources efficiently