Results From Unlimited Resources Coupled With Limited Wants. Unlimited wants limited resources. How limited resources are allocated to satisfy unlimited wants.
It deals with trade restrictions. Generally we put resources into 3 categories. Labor is the broad category of human effort both physical and mental included.
An intangible object that can be sold eg haircuts insurance dry cleaning etc.
Giving up all or a part of one thing in order to get something else. 21 Scarcity Learning Outcome. The existence of scarcity requires. 4 This is a trick question.