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1= Absence of scarcity would mean …

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1= Absence of scarcity would mean absence of economic. Explain with logical reasoning.

Posted by Satya Prajapati. 6 years, 4 months ago

CBSE > Class 11 > Economics

1 answers

Deepanshu Marwah 4 years, 3 months ago

The statement is true because economics is a subject which studies social and individual behaviour at the time of scarcity. So if there is no scarcity of resources then one would have enough to fulfil his needs and one would not need to make any choice. Thus we can say that scarcity is an necessay condition for economics.

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