What is scarcity in economics?

Answer Economics tries to explain the behaviors of individuals, businesses and societies in a world in which resources are scarce and wants are unlimited. Scarcity, in short, is a central fact of economic... Read More »

Top Q&A For: What is scarcity in economics

What is scarcity&how does it affect supply&demand in the game of economics?

Scarcity is an economic principle that forces people to make choices based on a limited number of resources. This affects supply and demand based on how many people want a given item.ChoicesPeople ... Read More »

What does scarcity force us to do?

How to Take AP Economics?

Advanced Placement courses are more challenging than regular classes, and AP Economics is no exception. The course will test your ability to research and remember important data, provide you with a... Read More »

Economics Projects?

Economics attempts to study the production, distribution and use of a society's goods and services. Students of this field can greatly benefit from hands-on projects, which force them to synthesize... Read More »