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Water scarcity is the lack of fresh water resources to meet water demand. It affects every continent and was listed in 2015 by the World Economic Forum as the largest

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Name: GODWIN KUMA FREMPONG Subject: Business Economics SCARCITY IS THE CENTRAL PROBLEM OF ECONOMICS Scarcity is the inability to satisfy all wants of humans due to a

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Scarcity in an economy is the most occurring situation. The needs of the human are more than the availability of the resources and it is seen in every economy.

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Scarcity refers to the basic economic problem, the gap between limited—that is, scarce—resources and theoretically limitless wants.

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Chapter 2: The Economic Problem: Scarcity & Choice Drop Box Assignment 1. Identify which country has the comparative advantage (page 26) for wine & which country has