Scarcity

Scarcity is the fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited Resources. This universal imbalance compels Choice and shapes economic systems, guiding decisions about allocation and production.

See also

Linked from: Allocation, Collectible, Collectibles, Consumption, Costs, Demand, Ec1, Economic Cost, Economic Good, Economic Goods, Economic Value, Economics, Economist, Excess, Excludability, Exclusive, Exclusivity, Free Good, Lack, Limited, Limited Edition, Limited Time, Marginal Utility, Market Equilibrium, Microeconomics, Modern Economics, Need, Needs, Opportunity Cost, Rare, Rare Foods, Rarity, Ration, Resource Allocation, Resource Conflict, Resource Economics, Resources, Rivalrous Good, Saving, Shared Resources, Shortage, Supply, Supply And Demand, The Door To The Penny Question, Trade Off, Tragedy Of The Commons, Waiting List

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