Since human wants are unlimited, and resources used to satisfy those wants are limited - there is scarcity. Even in the US, one of the richest countries in the world, there is scarcity -- if we use our new definition of SCARCITY. ... Because of scarcity we as individuals, and our society as a whole, must make choices.
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Since human wants are unlimited, and resources used to satisfy those wants are limited - there is scarcity. Even in the US, one of the richest countries in the world, there is scarcity -- if we use our new definition of SCARCITY. ... Because of scarcity we as individuals, and our society as a whole, must make choices.