Answer :

Scarcity can be defined as the availability of limited resources in economics term. Hence, due to these “limited resources”, society or/and individual must prioritize their needs and wants, as to make choice.

Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
view all courses

Fill in the blankKarnataka Board - Economics

Fill in the blankKarnataka Board - Economics

List the goKarnataka Board - Economics

Identify thKarnataka Board - Economics

DifferentiaKarnataka Board - Economics

Observe howKarnataka Board - Economics

What major Karnataka Board - Economics

Why do we nKarnataka Board - Economics

List the ecKarnataka Board - Economics

Define MicrKarnataka Board - Economics