Write out a paragraph showing your understanding of scarcity.

the state of being scarce or in short supply; shortage.

(especially of food, money, or some other resource) insufficient for the demand.

Explanation:

Scarcity refers to a basic economic problem—the gap between limited resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible. Scarcity is also referred to as "paucity". Scarcity is when the means to fulfill ends are limited and costly. Scarcity is the foundation of the essential problem of economics; the allocation of limited means to fulfill unlimited wants and needs.

i hope it helps :)

i used to know but i learned it a long time ago sorry

explanation:

i'm not sure i'm so sorry i will see what i can do