Question

Mention any two scarcities in your daily life.​

Answer 1

Explanation:

Fresh air and clear water are the two scarcities in our Daily life. Explanation: These are the two very basic and essential components of living life. ... These both are the natural resources for living life.

Answer 2

Scarcity, in economic terms, is a situation in which the demand for a commodity or service exceeds the supply of the same. It is a crucial topic in the subject. Robbins, one of the most eminent economists, stated that there are finite resources available to meet unlimited human wants. This is why there is a scarcity of any product.

The two scarcity issues that we encounter on a daily basis are as follows:

1. Water scarcity: In our nation, India, there are still many communities on the outskirts that do not have access to water. Instead, people must gather water from the nearest available water source for their daily requirements.
2. Scarcity of power: Similar to water supplies, India's power supply is insufficient, necessitating extensive effort.