mention any two features of scarcity oriented defination of economics
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Explanation:
Since wants are numerous and means are scarce, we have to choose the most urgent wants from these unlimited wants. Hence, the consumer will select few wants according to his preference pattern. Thus, scarcity of resources makes the choice necessary.
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17
Answer:
Since wants are numerous and means are scarce, we have to choose the most urgent wants from these unlimited wants. Hence, the consumer will select few wants according to his preference pattern. Thus, scarcity of resources makes the choice necessary.
Explanation:
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