HISTORY
HISTORY OF THE MIDDLE EAST
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
To have a lot of something.
|
|
|
In short supply
|
|
|
To have nothing.
|
|
|
None of the above
|
Detailed explanation-1: -It means that the demand for a good or service is greater than the availability of the good or service. Therefore, scarcity can limit the choices available to the consumers who ultimately make up the economy. Scarcity is important for understanding how goods and services are valued.
Detailed explanation-2: -Scarcity is basically defined as the state of being scarce or in short supply; shortage.
Detailed explanation-3: -Societies can deal with scarcity by increasing supply. The more goods and services available to all, the less scarcity there will be. Of course, increasing supply comes with limitations, such as production capacity, land available for use, time, and so on. Another way to deal with scarcity is by reducing demand.
Detailed explanation-4: -Land – a shortage of fertile land for populations to grow food. Water scarcity – Global warming and changing weather, has caused some parts of the world to become drier and rivers to dry up. Labour shortages. Health care shortages. Seasonal shortages. Fixed supply of roads. 25-Jun-2019