Question

Write an essay on resource scarcity.​

Answer 1

Explanation:

Resource scarcity is the lack of availability of supplies required to maintain life, or a certain quality of life. ... Scarcity is a perpetual problem for economic theory, which often assumes that humans have unlimited wants but must find ways to fulfill these wants using scarce resources.

Answer 2

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.

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