When is a resource considered scarce?

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1236017

2026-04-08 10:00

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A resource is said to be scarce when there isn't enough of it to go around. When Daniel begins thinking about all the things he wants to do with his summer vacation, he realizes he only has a limited number of weeks before he has to go back to school.His summer vacation is a scarce resource: there isn't enough of it to meet his demand. Spending two weeks at Baseball camp means he would not have enough time to do something else. For example, if he spends his time at baseball camp he won't be able to spend that time at the county fair with his friends. The problem Daniel faces is a problem of scarcity.

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