What is scarcity resources
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Posted by Zavi Khan 7 years, 10 months ago
- 3 answers
Shivam Agarwal 7 years, 10 months ago
Resource scarcity is the lack of availability of necessary supplies required to maintain life, or a specific quality of life, and is one of the fundamental ideas that economics is built on. Scarcity is the primary problem that comes about with economics due to the fact that human wants are unlimited in quantity, but the various resources we have available on our planet to fill human needs are limited and therefore must be rationed and careful choices must be made in distribution of resources.
Tanya Goyal 7 years, 10 months ago
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Mimansha Rawat 7 years, 10 months ago
1Thank You