Social Sciences, asked by ebinshaji222, 1 year ago

Scarcity definition in economics

Answers

Answered by iamintelligent99
1

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants.Scarcity is also referred to as "paucity."

Answered by adithyakrishnan6137
1

Answer:

Scarcity in economics refers to short supply in relation to the demand.

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