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How is choice related to scarcity? Related: Central problem of an Eco...
Economic is related to scarcity
human wants are unlimted and means(resources) to satisfy those want are limited therefore human have to make choice from scare means(resource)
here, we have to make choice means scarcity therefore it is related to scarcity related to central problem of an economy
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How is choice related to scarcity? Related: Central problem of an Eco...
The question of choice arises directly out of the scarcity of resources. The human desires are unlimited and resources are limited, so we have to choose goods and service according to our priorities. suppose a society have limitless resources, there will then be no economic problem. Thus choice directly relates with scarcity.
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How is choice related to scarcity? Related: Central problem of an Economy - Introduction to Microeconomics, CA CPT?
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