Under the broadest meaning, scarcity would mean that there are limits to our resources on this planet. A resource or a commodity that exists as a limited quantity would be said to be scarce.
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
economics is a science of scarcity
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Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
economics is a science of scarcity
Wants and desires will always exceed the resources available to fulfill them.
Scarcity
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Economics is the study of how society manages its scarce resources therefore, the study of economics is only important because of the scarcity of resources. Higenyi
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