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they affect it because when you conserve the resources your limiting them then that means their wants are limited (KeshaS)
Economics doesn't truly care about the conservation of scarce resources, it only cares about how those scarce resources are used. The statement 'Economics is about conserving scare resources' is false.
resources
All resources are scarce.
resources are scarce,.the concepts of scarcity arises from the scarce resources or simply resources for short.
they affect it because when you conserve the resources your limiting them then that means their wants are limited (KeshaS)
Economics doesn't truly care about the conservation of scarce resources, it only cares about how those scarce resources are used. The statement 'Economics is about conserving scare resources' is false.
resources
All resources are scarce.
resources are scarce,.the concepts of scarcity arises from the scarce resources or simply resources for short.
Resources that are limited and in demand are scarce, and therefore have a cost.
resources that are scarce
Resources are limited .
All resources are scarce.
Example of some scarce resources are Oil, Paper, Gasoline and Land etc.
Scarce resources are known to attract higher prices and thus they are of higher value than those in abundance. Examples of scarce resources include diamonds and gold.
There are unlimited wants for these resources, but there are only a limited amount of resources in this world. Therefore they are considered scarce.