The problem created by "scarcity":

Question

Quizplus · Accepted Answer

Scarcity is the concept that there are limited resources but unlimited wants and needs. This applies to everyone because resources are limited, whether it is food, water, money, or time. Working overtime or the income level of top earners may not necessarily solve scarcity because the issue is that there is not enough of a resource to satisfy everyone's wants and needs. It is also a concern on the macro level, as scarcity affects entire economies and can lead to issues such as inflation and poverty.

The Problem Created by "Scarcity