Question

What do
mean
you
by sarcity ?​

Answer 1

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.

Often scarcity is caused by a combination of demand and supply induced effects. A rise in demand, e.g. due to rising population causes overcrowding and population migration to other fragile ecological areas.