Scarcity is the root cause of economic problem justify the statement with example
Answers
We run into scarcity because well resources are limited, we are a society with unlimited wants. Therefore,we have to choose. scarcity is the root for all economic problems.... Moreover,these scarce resources have alternative uses and can be allocated to the production of different goods and services.
scarcity is a problem of fulfilling all of our human needs and wants with limited resources available.
For example,
Durian. a fruit that only grows Times of the year when consumers demands for durian during a period of time durations will not grow scarcity will occur because the limited durian available to fulfill the consumers wants. there are four economic systems in this world which is the market economy, mixed economy, planned economy and the Islamic economy. All of this economic system has their own specific way in solving this economic problems.