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Sagot :
The concept that human desires are unlimited while resources for achieving those desires are limited is known as scarcity.
What is scarcity?
Economists believe that human wants are unlimited. For example, if you look at the things you want, you would agree that the things you want is unlimited.
But sadly, the resources needed to meet those desires are limited. This is referred to as the scarcity of resources. For example, the money needed to meet your desires are available in limited quantities. This is why humans have a scale of preference.
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