Economy, asked by yukibernabei, 7 hours ago

What is the relationship of scarcity and the concept of consumption?

Answers

Answered by MissDaffodil

1

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.

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