Scarcity arises from the fact that the naturally occurring amount of usable resources is less than the amount people would like to make use of.

Name: Scarcity arises from the fact that the naturally occurring amount of usable resources is less than the amount people would like to make use of.
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Question

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Scarcity is a fundamental economic problem where unlimited human wants exceed the limited resources available, leading to the necessity of making choices about how to allocate resources efficiently.

Scarcity Arises from the Fact That the Naturally Occurring Amount