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

Question

asked Feb 17, 2024 217k views

2 Answers

Zaeem · Answer 1 · 2024-02-18T21:14:40+0000

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

Tessafyi · Answer 2 · 2024-02-21T04:50:59+0000

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.