Scarcity Can Occur In America

Satisfactory Essays
Question 1
The similarities with Robbins and Friedman’s definition of economics is that they both perceive economics as a science based on scarcity and the demand of a product.
Question 2
Scarcity can occur in America due to the fact that it is not possible for a country to provide all the goods a services that its citizen’s want, there are situations where this is high demand for a particular product that the resources to produce this product is limited. This can also occur where the good and service is a need for instance the water crisis in Flint Michigan, with the water being contaminated there is a scare supply of clean drinkable water.
Question 3
Yes it is possible to incur an opportunity cost without spending money as we know an opportunity
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