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22-10-2020
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The economic concept of scarcity refers to the idea that : APEX

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22-10-2020

Answer: Resources required to fulfil our needs are insufficient

Explanation:

Scarcity in economics is the term used to describe the notion that the needs of a society are infinite but the resources needed to satisfy these needs are finite.

This is why humans have to constantly make a trade-off between resources needed to satisfy a need by picking one alternative course of action that requires a resource over another.

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