What is scarcity?

a situation that exist when there are not enough resources to meet human wants.

Certainly, it is a world of scarcity. But the scarcity is not confined to Iron ore and arable land. The most constricting scarcities are those of character and personality.

Scarcity affects the producer and the consumer.

Producer: they have to decide what to produce and how much to produce but that depended on the resources available And it depends on what the consumers want

The consumer

we are all consumers so we have to be careful about the things we buy because everything has a limit even our natural resources

Examples of natural resources that will become scarce


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