Question

What do you mean by Scarcity?​

Answer 1

Answer:

Scarcity dictates that economic decisions must be made regularly in order to manage the availability of resources to meet human needs.

Some examples of scarcity include: The gasoline shortage in the 1970's. .Coal is used to create energy; the limited amount of this resource that can be mined is an example of scarcity.

In short scarcity means lack of a resource or thing....

Answer 2

Scarcity is the limited availability of certain commodity. It also includes lack of certain resources. Or in easy words it is deficiency or shortage of something.

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