Scarcity exists because our wants and needs are greater than the resources available to satisfy them
unlimited resources would mean that scarcity does not exist. And if scarcity does not exist, then of course, there's no opportunity cost. we can buy anything we want with enough income.
They occur whenever we dont have enough resources to produce all the things we like to have. By : Taylor S Locklear
*there are not enough resources to produce everything people want*
because opportunity itself is scarce too
Scarcity is a situation where there is not enough to satisfy everyone's wants.
unlimited resources would mean that scarcity does not exist. And if scarcity does not exist, then of course, there's no opportunity cost. we can buy anything we want with enough income.
Because there unlimited wants but limited resources.
They occur whenever we dont have enough resources to produce all the things we like to have. By : Taylor S Locklear
*there are not enough resources to produce everything people want*
because opportunity itself is scarce too
Because these economic actors exist in a condition of scarcity, which means that they must make trade-offs to achieve their desires. Making trade-offs implies economic choices exist.
Examples of antonyms for the noun 'scarcity' are:glutabundanceexcesssurplussufficiencyenough
Scarcity is a situation where there is not enough to satisfy everyone's wants.
scarcity is the condition of being scarce or less. Usually associated with a certain quantity. Like scarcity of water in a desert. Scarcity of rain in a region
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
There was a scarcity of water in the desert.
scarcity is the problem in all societies. Scarcity is limited resources to satisfy human wants.