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No the electricity itself isn't but the raw materials that go to generating it ARE

Fossil fuels for instance - Even water can be put in that bracket. For instance if the water feeding the Hoover dam dried up - then an issue occurs

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14y ago

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Is rawlings perfect competition?

the struggle between organisms to survive as they attempt to use the same limited resource the struggle between organisms to survive as they attempt to use the same limited resource


Is electricity a scarce resource in today's world?

Electricity is not considered a scarce resource in today's world, as it is widely available and accessible in most developed countries. However, there are concerns about the sustainability of electricity production and the need to transition to renewable energy sources to meet future demands.


What is scarcity how does it affect the way people make ecomomic choices?

Scarcity is the limited availability of a resource. It affects the way people make economics choices by increasing the price and likely the demand of the resource.


Command economic system?

it is that type of economy where by resource allocation is done mostly by the state and ther is limited individual intervention


What is the difference between physical and economic scarcity?

Physical scarcity refers to the actual shortage of a resource due to its limited availability in nature, such as water or fossil fuels. In contrast, economic scarcity arises from the imbalance between limited resources and unlimited human wants, leading to competition for those resources. While a resource can be physically abundant, it may still be economically scarce if it is not accessible or affordable to those who need it. Essentially, physical scarcity is about the resource itself, while economic scarcity focuses on the allocation and distribution of that resource.