They occur whenever we dont have enough resources to produce all the things we like to have.
By : Taylor S Locklear
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.
A shortage can be temporary or long-term, but scarcity always exists.
*there are not enough resources to produce everything people want*
because opportunity itself is scarce too
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.
Because there unlimited wants but limited resources.
A shortage can be temporary or long-term, but scarcity always exists.
*there are not enough resources to produce everything people want*
Scarcity is our limited resources but unlimited wants.The problem of scarcity is that our wants are always beyond what we can produce with our resources.
because opportunity itself is scarce too
demand will always be greater then supply
demand will always be greater then supply
No . . . no species will always exist.
Wants and desires will always exceed the resources available to fulfill them.
If scarcity didn't exist, resources would be abundant and accessible to everyone, fundamentally transforming economies and societies. This could lead to the elimination of competition for resources, fostering collaboration and innovation. However, it might also challenge the value of goods and services, as their worth often derives from limited availability. Ultimately, a world without scarcity could reshape human motivations, social structures, and environmental interactions.