top button
Flag Notify
    Connect to us
      Site Registration

Site Registration

Explain how "scarcity is a central problem of economics as well as mother of all economic activities?"

0 votes
345 views
Explain how "scarcity is a central problem of economics as well as mother of all economic activities?"
posted Jun 13, 2018 by Bishal Niure

Share this question
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

0 votes

Partially yes (only second part is true not the first part, though there can be exceptions)

Basic assumption in economics is that resources are limited or scare. Economics, at its core, is the study of how best to use those limited resources or in simple words, economics is an academic attempt to put the world’s limited resources to their best use.

answer Jun 14, 2018 by Salil Agrawal
...