Pooja posted an Question
July 30, 2021 • 16:59 pm 30 points
  • UGC NET
  • Commerce

What are scare resources in economics?

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  • Durgesh rawat

    A resource with an available quantity less than its desired use. Scarce, or economic, resources are also called factors of production and are generally classified as either labor, capital, land, or entrepreneurship. Scarce resources are the workers, equipment, raw materials, and organizers used to produce scarce goods.

  • Rucha rajesh shingvekar best-answer

    In economics, scarcity refers to limitations–limited goods or services, limited time, or limited abilities to achieve the desired ends. ... Everyone agrees natural resources are scarce because they take a lot of effort, money, time, or other resources to get, or because there seems to be a finite amount available. A resource with an available quantity less than its desired use. Scarce, or economic, resources are also called factors of production and are generally classified as either labor, capital, land, or entrepreneurship. Scarce resources are the workers, equipment, raw materials, and organizers used to produce scarce goods. SCARCE RESOURCES: Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services.

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