Economics

Section - 1 (The Basic Economic Problems)
  • Scarcity
  • Factors of Production
  • Opportunity Cost
Section - 2 (Allocation of Resources)
  • Market and Mixed Economics
  • Equilibrium Price
  • Changes in Demand
  • Changes in Supply

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Scarcity

Q -  What is Scarcity ? Ans - Scarcity is a situation where there is not enough to satisfy everyone's wants. Q - Scarcity as the Econom...