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What is scarcity?
Scarcity is the basic economic problem that arises because people have unlimited wants but resources are limited.
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Asked 9/21/2009 10:41:49 AM
Updated 11/11/2015 12:54:12 PM
2 Answers/Comments
Edited by yumdrea [11/11/2015 12:53:48 PM]
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Scarcity is the basic economic problem that arises because people have unlimited wants but resources are limited.

Added 11/11/2015 12:54:12 PM
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Scarcity refers to an insufficiency or shortage of supply.
Added 9/21/2009 11:13:53 AM
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