Which of the following is central to the definition of Economics?
ECONOMICS
WAEC 2020
Which of the following is central to the definition of Economics?
- A. resources
- B. wants
- C. scarcity
- D. capital
Correct Answer: C. scarcity
Explanation
Scarcity is one of the most important components of the definition of economics. It signifies the gap between limited resources and limitless wants.
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