Economy, asked by vikaskadam5121, 1 year ago

Explain the concept of scarcity and its relationship with oppurtunitycost

Answers

Answered by samikksha123
0
hey mate here is your answer

Scarcity — The condition that exists when there are not enough resources to satisfy all the wants of individuals or society. Choices — The decisions individuals and society make about the use of scarce resources. Opportunity Costs — The next highest valued alternative that is given up when a choice is made.

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