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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

True or false? Scarcity is the condition of finite resources. Explain your answer.

To determine

Identify if the statement is true or false.

Explanation

Scarcity is a situation in which the human’s wants are greater than the available resources. There is something available in such quantity that exceeds the needs. Thus, from this definition itself it is clear that, scarcity is the condition that arises due t...

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