Why is scarcity and choice the basis of economics in every society?

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asked Aug 20, 2021 136k views

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Joy Biswas · Answer 1 · 2021-08-25T03:15:01+0000

They are basic problems of economics because every good or service has a limit to be reached and people have to decide what to choose based on their needs and wants.

Why is scarcity and choice the basis of economics in every society?

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