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HOW SCARCITY & CHOICE GO TOGETHER

How Scarcity & Choice Go together

 Human Wants are unlimited & Resources to satisfy them are limited. Scarcity means excess of demand over the available supply. Choice refers to selecting the best alternative. When resources are scarce, choice has to be exercised to make optimum utilisation of the resources. The problem of choice arises because of scarcity . Therefore Scarcity & choice go together .!!

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