Explain in economic terms why time and income are the two scarce resources involved in every purchase we ever make?

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asked Jun 2, 2022 101k views

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Cyotee Doge · Answer 1 · 2022-06-08T07:50:41+0000

Answer:

Money and time are quintessentially scarce resources. Most people have too little of one, the other, or both. An unemployed person may have an abundance of time, but find it hard to pay rent due to scarcity of money.

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Explain in economic terms why time and income are the two scarce resources involved in every purchase we ever make?

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