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Advanced Placement (AP)Advanced Placement (AP)
20 March, 02:22

Without scarcity there wouldn't be the need to study economics. True/False? Eplain.

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  1. 20 March, 02:24
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    True.

    Since scarcity is the basic economic problem, without scarcity there would be no need to study economics. Scarcity means when a particular commodity is not enough to satisfy human wants completely. So, if scarcity doesn't exist, it'll mean that everyone's wants will be fulfilled, hence the need to study economics will not be there.
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