English

What is meant by scarcity?

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Question

What is meant by scarcity?

Very Short Answer
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Solution

Scarcity refers to limitation of supply in relation to the demand for a commodity.

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Chapter 1: Introduction - OBJECTIVE QUESTIONS [Page 1.40]

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Sandeep Garg Introductory Microeconomics [English] Class 11
Chapter 1 Introduction
OBJECTIVE QUESTIONS | Q 1. | Page 1.40
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