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What is an example to explain the concept of scarcity?

Mixed economy


Discuss the concept of scarcity?

The concept of scarcity is rather simple. Something is considered to be scarce when it is very limited, unavailable momentarily, or understocked.


What is the relation between ethics and public relations?

ethics is the core concept of the society need for affection and relation .it explain how human should live in this world.public relation satisfy the same need in professional way.


Why is the concept of scarcity important in rich countries as well as poor ones?

Scarcity = limited resources of the earth. Developed countries have better technology and organization to deal with scarcity, but scarcity is still there


The key economic concept that serves as the basis for the study of?

Scarcity


What concept comes about when you have unlimited wants as well as limited resources?

scarcity


The concept of comes about when you have unlimited wants as well as limited resources?

Scarcity


What concept means to have unlimited wants with limited resources?

scarcity economics


What is the Econmic concept necessitating choices and priorities in any society?

The economic concept necessitating choices and priorities in any society is scarcity. Scarcity refers to the limited availability of resources in relation to unlimited human wants and needs, forcing individuals and societies to make choices about how to allocate those resources effectively. This leads to prioritizing certain goods and services over others, influencing decisions in production, consumption, and distribution. Ultimately, scarcity drives the fundamental economic problem of how to satisfy competing desires with limited means.


Concept of scarcity?

Scarcity is the economic issue of unlimited wants of very limited resources or products. Sometimes a highly desired resource or product simply can not be produced. This causes a state of scarcity.


The concept of blank comes about when you have unlimited wants as well as limited resources?

scarcity


Which economic concept is associated with rationing during world war ii?

scarcity