Economic Problem Confronting Every SocietyScarcity is the basic and central economic problem confronting everysociety. It is the heart of the study of economics and the reason behind itses 12883 WORDS

Economic Problem Confronting Every SocietyScarcity is the basic and central economic problem confronting everysociety. It is the heart of the study of economics and the reason behind itses 12883 WORDS

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Scarcity is the basic and central economic problem confronting every
society. It is the heart of the study of economics and the reason behind its
establishment. Authors have defined scarcity in various way some of which are
complexly stated. One author defines scarcity as a commodity or service being
in short supply, relatives to its demand (Kapur 2019) which implies