Question

What are the two factor which define scarcity?

Answer 1

meaning of scarcity is in short supply. the two factors that define scarcity is when there is no supply of water it is called scarcity of water ,when there is short supply of food it is called scarcity of food



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Answer 2

Resource are limited and they can be put to alternative use are two factors that define the scarcity.

Explanation:

• Scarcity refers to the economic problem of a gap or a limitation that is a scarce resource and factors like the allocation of resources, and the needs and wants of man.  

• The scarcity can be of three types as demand, supply induced, and structure induced. Lack of resources does not allow individuals to buy or purchase commodities.

Learn more about the two factor which define scarcity.

• brainly.in/question/3963859 answered by  112vidushi.