What is scarcity? why do we have scarcity? what are the 3 causes and solutions to scarcity?

In economy, scarcity refers to the gap between limited or scarce resources and limitless wants or demands. It requires efficient allocation of resources  in order to satisfy basic needs and additional wants. For example, any resource that is free to consume is scarce like air or water. Governments must  think of policies and methods to allocate resources.

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