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Scarcity refers to lumitation of ____ in relation to ____ for a commodity.A. Demand, SaleB. Demand, SupplyC. Supply, DemandD. None of these.

Answer» Correct Answer - C
C. Scarcity refers to limitation of Supply in relation to Demand for a commodity. Resources are scarce in relation to our wants and economy cannot produce all what people want. It is the principal reason for existence of economic problems in all economies.


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