When a society cannot produce all the resources that people wish to have, it is called:

Name: When a society cannot produce all the resources that people wish to have, it is called:
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Scarcity refers to the fundamental economic problem of limited resources and unlimited wants and needs. It is a common condition in every society and forces individuals, businesses, and governments to make choices about how to allocate limited resources.

When a Society Cannot Produce All the Resources That People