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What is Scarcity in General? PDF Download

Learn Scarcity definition in general with explanation to study “What is Scarcity”. Study scarcity explanation with general terms to review general course for online degree programs.

Scarcity Definition:

  • An inadequate measure out in accommodating resources.


Scarcity Explanation:

Scarcity is considered as the most serious problem that majority of countries are facing these days, due the huge surge of population growth and insufficient supply of possible resources that meet the demands of every human being. In addition, the factors that causes scarcity are; capricious government policy, inaccurate management or irresponsible executive performance. The only solution to handle the mounting problem of scarcity for society to negotiate it by adopting options such as; the study of economics, choice, maximizing satisfaction, as these privileges provides economic growth.

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