Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. ... Any resource that has a non-zero cost to consume is scarce to some degree, but what matters in practice is relative scarcity. Scarcity is also referred to as "paucity."
⟹Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. ... Any resource that has a non-zero cost to consume is scarce to some degree, but what matters in practice is relative scarcity. Scarcity is also referred to as "paucity."
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Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. ... Any resource that has a non-zero cost to consume is scarce to some degree, but what matters in practice is relative scarcity. Scarcity is also referred to as "paucity."
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Answer:
⟹Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. ... Any resource that has a non-zero cost to consume is scarce to some degree, but what matters in practice is relative scarcity. Scarcity is also referred to as "paucity."