Question

Explanation of Land scarcity

Answer 1

$\huge \mathscr{Answer}$

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible

Answer 2

Answer:

Scarcity is fewer resources than are needed to fill human wants and needs. These resources can be resources that come from the land, labor resources or capital resources. Scarcity is considered a basic economic problem.

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