Scarcity Is the condition that results from society not having enough resources to produce all things.
The fundamental economic problem facing all societies is that of scarcity.
Whether they are rich or poor mot people want more stuff.
Some people want things like expensive cars and extra big houses things such as that.
Economics often talk about needs and wants.
Wanting a New Pair Of Shoes.
Wanting to go and buy some new pants.
Something that you need meaning food water and shelter, things such as that.
A want is water.
A want is food.
A want is something that you want like some shoes or something new.
A want is something that I have.
Economics is life.
Economics is something that people go through.
I want someone to tell me Economics.
The study of how people try to satisfy what appears to be seemingly unlimited.
When more peole come in the community.
When Its A lot Of People.
A Number Of People In The Same Community.
It occurs When Nations Total Output Of Goods And SErvices Increases over time.
It takes place when your special.
It's only for certain special people.
It takes place when factors of production perform tasks that they can do relatively.
If you're not special you will not get a specialization.
Wealth is when you happy.
Wealth is and economics sense is the accumalation of those products that are tangible.
Wealthy is when you have good health.
Wealthy is something that everybody has.