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www.quora.com/Why-is-scarcity-important-in-economics

Scarcity is what brought economics as an important social science subject to existence in the first place. We have to deal with scarcity of resources to produce yet insatiable demands from society which assumed to be in greater quantity than the producers can produce.

www.answers.com/Q/Why_is_scarcity_important_in_economics

The reason why economics often called the study of scarcity and choice is that according to Robbin economics deal with satisfying 1.unlimided wants with 2.Limited resources Our resources or income ...

philschatz.com/economics-book/contents/m48591.html

What Is Economics, and Why Is It Important? ... Evaluate the significance of scarcity; Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life. ...

www.enotes.com/homework-help/why-opportunity-cost-scarcity...

Get an answer for 'Why is opportunity cost and scarcity important in economics?I want to know both of them separetely why they important in economics' and find homework help for other Business ...

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Why is scarcity and choice important in economics? Scarcity and choice are important in economics because there would be no economy if there was no scarcity (limitation in resources) and no choice as to how these resources would be used. Scarcity and choice are the founding blocks of the story of economics.

answers.yahoo.com/question/index?qid=20110124160315AA6yiDh

Best Answer: The reason why Scarcity is SO important to the economy is beacuse the economy is scared we will run out of resoucres. What i mean in resorces is food, water and etc.

answers.yahoo.com/question/index?qid=20090212210256AAqYJwO

To introduce students to the economic way of thinking most of the examples that are brought to you involve decisions a rational person would make given scarce amount of resources. Scarcity is an important concept because if there was an abundant amount of resources then decisions would be simple.

www.reference.com/science/scarcity-economic-problem-cf27ad...

Scarcity is one of 51 concepts identified by the National Council on Economic Education. Scarcity is an economic problem because one of the main factors that drives economics is the relationship in supply versus demand; if something is in demand and also in short supply, it is more scarce and therefore garners a higher price.

www.investopedia.com/terms/s/scarcity.asp

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about ...

quizlet.com/4447841/econ-chap-1-flash-cards

zero. The concept of scarcity is important to the definition of economics because scarcity forces people to choose how they will use their resources in an attempt to satisfy their unlimited wants and desires. Economics is about making choices. Without scarcity there would be no economic