Question

State how scarcity and choice co exist

Answer 1

Answer:

Scarcity requires choice. People must choose which of their desires they will satisfy and which they will leave unsatisfied. ... Economics is sometimes called the study of scarcity because economic activity would not exist if scarcity did not force people to make choices. When there is scarcity and choice, there are costs.

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Answer 2

Scarcity requires choice. People must choose which of their desires they will satisfy and which they will leave unsatisfied. ... Economics is sometimes called the study of scarcity because economic activity would not exist if scarcity did not force people to make choices. When there is scarcity and choice, there are costs.

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