Scarcity: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add link.) |
||
| Line 12: | Line 12: | ||
* [[Production possibility curves]] | * [[Production possibility curves]] | ||
* [[Scarce resource]] | * [[Scarce resource]] | ||
* [[Scarce resource analysis]] | |||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Revision as of 16:20, 15 November 2020
Economics.
Scarcity refers to a resource (such as natural gas) which is limited in supply and from which demand must be satisfied.
The term is a relative one, as - ultimately - all resources are limited in supply.
For decision making purposes, scarcity often refers to the resource which is most scarce in the situation under review.
