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what determines if a resource is a scarce? why is the concept of scarcity important in economics?

what determines if a resource is a scarce? why is the concept of scarcity important in economics?

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The determination of a scarce resource is contingent is one that is not in infinite supply.  Essentially over time it is... View the full answer

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the determinant of scarcity is its availability. If a resource is scarce its not easily obtainable from nature as a result... View the full answer

A resource is scarce when it has more demand as compared to its supply. Scarcity arises becaus e resources are limited and... View the full answer

Scarcity is determined by limitation of resources and the unlimited human needs. Resources are never... View the full answer

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