Question

"We are not as lucky as Aladdin in real life" Eluisdate this Statement

Please solve it's urgent

Answer 1

Answer:

In real life we are not as Lucky as Aladdin though,we have Unlimited wants like him,we don't have a Magic lamp.

Scarcity is the root cause of all Economic problems if there were no scarcity,there would have not been no economic problems

Examples for scarcities are = The rush to get a ticket to watch a new film. The long queues at railway booking.

The resources are limited and also have alternative uses.

Example= The land can be used for the construction of Buildings, Hospitals, Schools etc... Land ,water, Money,Petrol are some of the examples for Alternative uses.

Alternative use of resources thus creates the problem of choice