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What is meant by scarcity of …

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What is meant by scarcity of resource

Posted by Abhay Singh 7 years, 2 months ago

CBSE > Class 12 > Economics

5 answers

Lakshita Sharma 7 years, 2 months ago

All ryt gaurav...everyone has different views..may b ur simple way help many people..?

Gaurav Bansal 7 years, 2 months ago

I know....lakshita ....it is not related to any points..but it is the simplest way to understand this.

Lakshita Sharma 7 years, 2 months ago

Gaurav...no doubt...ur example was nice but it do not relates th topic anywhere...just my views...dont b arrogant...?

Gaurav Bansal 7 years, 2 months ago

Scarcity is the situation when demand exceeds supply at zero level of price.for example- In winter season,we demand sunlight but when sun do not appear then u can say that there is scarcity of sunlight. But In summer season we cannot demand sunlight so even sun cannot appear but we cannot say that there is scarcity of sunlight. Hope it helped

Lakshita Sharma 7 years, 2 months ago

Scarcity of resources means lack of resources...simply means tht their are less resources in th economy then needed...hope it helped abhay singh...?

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