What Best Describes the Economic Problem of Scarcity
Scarcity or limited resources is one of the most basic economic problems we face. The economic problem also known as the central economic problem describes the relationship between what humans want and whats able to be produced. Lesson Explainer Fundamental Economic Problem Nagwa Asked Jul 27 2019 in Economics by caysay. . A Scarcity afflicts only poor countries. Scarcity is the state of unavailability of certain goods in a society. Scarcity is an economic concept that relates the existence of unlimited resources including natural and manufacture products to the human infinite desires. View YEAR 10- FINAL EXAM PAPER 1docx from ECONOMICS EX2013 at The National University of Malaysia. This is because this situation makes resources be scarce and pushes humans to make decisions about how to use the resources available which affects other economic concepts such as demand resources. The basic economic problem is scarcity which i...
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