Question

Explain why economists are concerned with relative scarcity as opposed to absolute scarcity?​

Answer 1

Absolute scarcity: First, it may be that there are simply insufficient quantities of a resource to meet human needs or wants. ... Relative scarcity: Second, there may be physical quantities of a resource present but scarcity exists because of problems about supply or distribution

Answer 2

Absolute scarcity: First, it may be that there are simply insufficient quantities of a resource to meet human needs or wants. ... Relative scarcity: Second, there may be physical quantities of a resource present but scarcity exists because of problems about supply or distribution.Jan 19, 2012

Step-by-step explanation: