Without scarcity of resources there would be no need to study economic. Discuss
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Explanation:
The important aspects that is covered under economics arises due to scarcity of resources.
Due to scarcity of resources demand arises, supply takes place. New techniques are invented to meet the demand, distributors are appointed to make goods available to consumers. Also, money gets importance due to demand and supply.
In this way all the topics are interrelated. So, Without scarcity of resources there would be no need to study economics.
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