Final answer:
Scarcity is the condition where there are not enough resources available to produce everything that individuals demand. An economic advantage of dealing with scarcity is specialization, where workers or firms focus on particular tasks for which they are well-suited within the overall production process.
Step-by-step explanation:
Scarcity is a concept at the center of economics. It refers to the condition where there are not enough resources available to produce everything that individuals demand. An economic advantage of dealing with scarcity is specialization, where workers or firms focus on particular tasks for which they are well-suited within the overall production process. This allows for increased efficiency and productivity in the economy.