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MICROECONOMICS CH : 1 ECONOMICS AND ECONOMY — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 1 ECONOMICS AND ECONOMY1 Mark
Question
Define scarcity.
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Answer

Scarcity is a situation when demand for resources exceeds its supply.

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