scarcity

In economics, scarcity refers to limitations—insufficient resources, goods, or abilities to achieve the desired ends. Figuring out ways to make the best use of scarce resources or find alternatives is fundamental to economics. Scarcity and Choices Some fruits and vegetables are scarce in...

Water plays a very vital role in our life. Water is regarded as one the important source of our existence. 97% of water is constitued of saltwater; the freshwater used to sustain humans is only 3% of the total amount of water on earth. Since the population of India has tripled in 20th century...

will there be scarcity of land in near future like scarcity in food because of the population growth??? thought population increases land on earth for living remains the same.....

Recently Mr.Bush blamed India for the rising food prices.His logic is "middle-class population in India is more than the total U.S population".More over the economic growth of India is increasing every yr.So the consumption is also increasing.Since the middle-class population is increasing,so...

Check it out its mind blowing..................

This chapter attempts to explain the concept of scarcity and introduces the most important notions of economics.