Economy, asked by roykush6001396107, 9 months ago

What is the relationship between scarcity and choice

Answers

Answered by rishika79

0

Answer:

Explanation:

Scarcity — The condition that exists when there are not enough resources to satisfy all the wants of individuals or society. Choices — The decisions individuals and society make about the use of scarce resources. Opportunity Costs — The next highest valued alternative that is given up when a choice is made

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