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7 August, 12:45

A basic concept in economics is that al resources are?

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  1. 7 August, 12:51
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    Limited

    Explanation:

    It is general believed that human wants are unlimited but the resources to satisfy them are limited.

    Scarcity is a term in economics, which means that the resources available will not be enough to meet the unlimited human want hence resources must be allocated efficiently.

    Some of the causes of scarcity are when demand is greater than what is being produced, when there are no enough suppliers to supply certain products. Etc
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