History, asked by mdnoorbasha, 29 days ago

what is scarcity? explain​

Answers

Answered by shinothere
0

Answer:

Scarcity is one of the key concepts of economics. It means that the demand for a good or service is greater than the availability of the good or service. Therefore, scarcity can limit the choices available to the consumers who ultimately make up the economy.

The causes of scarcity can be due to a number of different reasons, but there are four primary ones. Poor distribution of resources, personal perspective on resources, a rapid increase in demand, and a rapid decrease in supply are all potential scarcity causes.

Answered by elumalaimurugesan201
0

Answer:

scarcity is one of the key concepts

Explanation:

economic that the demand for a good or

service is greater than the availability of

the good service

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