Scarcity: A Problem for All Countries Alike

Scarcity indicates that resources are not enough to satisfy the unlimited wants of human being.
It means that a particular commodity is not enough in supply for the complete satisfaction of human wants.

Scarcity arises when the supply of a particular commodity is limited in relation to its demand. Scarcity is the central problem in economics.

It dictates that we must answer the three basic questions of allocation. They are:
Ø What to produce?
Ø How to produce?, and
Ø For whom to produce?

By establishing an economic system, we try to find the best solution for the above questions.
Ahmed Xahir
Ahmed Xahir

This is a short biography of the post author. Maecenas nec odio et ante tincidunt tempus donec vitae sapien ut libero venenatis faucibus nullam quis ante maecenas nec odio et ante tincidunt tempus donec.