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What do economists mean when they use the word "scarcity?"

User Shimrit
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Answer:

the demand for something greater than what's available scarcity limits the options available for consumers

Step-by-step explanation:

gap between whats available the of limited resources and the theoretical needs of people for such resource

User Zaeem
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Answer:

Scarcity means "little of"

Step-by-step explanation:

Scarcity means "little of" (Example food)

There was a scarcity of food in the town.

Since economics is dealing with money the word will most likely be used in the context of money.

User Tessafyi
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