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Define Scarcity and give at least five examples​

Sagot :

Answer:

1. Land

2. Water Scarcity

3. Labour Shortages

4. Health care shortages

5. Seasonal shortages

Explanation:

Scarcity is one of the key concepts of economics. It means that the demand for a good or service is greater than the availability of the good or service. Therefore, scarcity can limit the choices available to the consumers who ultimately make up the economy.