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Do you believe that all questions and problems arise from scarcity? Do you ever experience scarcity?...

Do you believe that all questions and problems arise from scarcity? Do you ever experience scarcity? Explain properly best two examples that you face from scarcity from your life.                                  (4) marks

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I do believe that most economic problems arise from scarcity. Scarcity of resources leads to problems and questions for an economy. This is because all the economies want unlimited resources. But resources are limited and sometimes scarce. Economising scarce resources is the usage of resources in the best possible way.

Yes I do experience scarcity. Labor resources are really limited in the place I live and I have experienced scarcity in this way. Lack of wealth is another scarcity we experience, we cannot buy the products we dream of due to scarcity of wealth resources.

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