How does scarcity drive the economy?

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08-04-2021
Physics

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How does scarcity drive the economy?

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Someonerandom000idn Someonerandom000idn · Answer 1 · 2021-04-08T19:24:07-04:00

Someonerandom000idn Someonerandom000idn

08-04-2021

Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. ... Society would produce, distribute, and consume an infinite amount of everything to satisfy the unlimited wants and needs of humans.

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