Economic resources are scarce not only because they are few in number. It doesn't stand alone. You have to compare it with other concepts, namely needs and wants. Scarcity occurs because resources are limited to satisfy our unlimited needs
Introduction to Economics
Economic Resources: Definition, Types
What's it: Economic resources is another term for factors of production. They include human resources such as labor and entrepreneurship and non-human resources such as land and capital. Sometimes we refer to them briefly as inputs or
Scarcity in Economics: Meaning and Explanation
Scarcity is a condition where limited resources cannot meet our unlimited needs and wants. Economic activity has produced various goods and services. But that is not enough. We want them more and more varied. That is why economists refer to