How do we assess that the money was scarce?
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when the amount of money is 0
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The scarcity of money in the economy can be described as follows:
• Limited resources available to meet unlimited demand and needs.
• A phenomenon of insufficient liquidity in the economy to finance the trade.
• Money scarcity in the economy leads to depressed economies permanently.
Causes:
• The scarcity of money causes deflation in the economy. This leads to a recession in the market.
• The Usury practice worsens the economy due to the constant drain of the money supply.
• Racketeering further manipulates the volume of money.
Such conditions depress the economy as well as worsens the labor condition.
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