Question

scarcity and choices go all together,defend and refute the statement with example.?

Answer 1

Scarcity of resources having alternative uses compels every individual and society to make choices in the use of resources in order to obtain maximum satisfaction. Clearly choice arises because of scarcity. Thus scarcity and choice go together.

Answer 2

Answer:
Resources are scarce but alternative of these resources can be considered as choice.
Explanation:

The resources required to manufacture products and services to fulfil human desires are scarce.

The core scarce resources are land, labour, capital, and entrepreneurship. These resources are finite in any economy, large or small, developed or underdeveloped, rich or poor. Some countries may have more of one or two resources than others.

The Indian economy, for example, has more labour but less capital and land. The American economy has more land but less labour. No economy on the planet is happy with all of its resources.  

Since resources are finite, economies must make a decision so that resources can be used in other ways. In broad sense, a resource may be used in a variety of ways.

Since these resources are finite and can have several applications, their allocation in the manufacture of various commodities is a decision element that must be done efficiently.

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