Spot scarcity in ordinary life - Economics | Zoonk

Spot scarcity in ordinary life - Economics | Zoonk

Spot scarcity in ordinary life

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A simple balance-style diagram showing a large pile of labeled want cards, “Wants,” overflowing on one side and a much smaller box labeled “Available resources” on the other, with the gap labeled “Scarcity.”

The basic problem

Economics starts with a simple mismatch: people want more things than the available resources can provide. That mismatch is called scarcity.