Business, 07.03.2021 17:40 tylerwilliams1116

Based on the theories on demand and supply, if the consumers demand a product more than the producers can supply, then there is a shortage of goods or services. Because of scarcity or limited resources available, there is also a limit on what the producers can supply in the market. However, research by Masudul Alam Choudhury explained that scarcity, especially food scarcity, is not because of the low available supply of raw materials. Based on the results of his research, scarcity is artificially generated by ethics and culture. The problem is the preferences of the consumers which is influenced by the culture and beliefs of a society. Do you agree or disagree with the research of Masudul Alam Choudhury? Why or why not?

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