Scarcity is a relative aspect. Consider there is 'abundant' X and also 'abundant' Y but the consumer has to decide how much Income (Income may also be considered abundant) to allocate between X and Y (Now though both abundant they may be relatively scarce i.e. when compared to each other), and this is done from his perception of utility which is an economic concept. So economics is also the study of optimal allocation, in scarce or abundant scenario.
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
economics is a science of scarcity
scarcity
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Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
economics is a science of scarcity
Scarcity
scarcity
scarcity
scarcity
scarcity
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scarcity
Economics is the study of how society manages its scarce resources therefore, the study of economics is only important because of the scarcity of resources. Higenyi
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Scarcity A+ sucks TAO