Macie123 Macie123

17-05-2016
Social Studies

Answered

What term is used to describe the difference between limited resources and wants and needs

Verified Answer :

WorldCitizen WorldCitizen

26-05-2016

I would distinguish here between positive and negative difference.

If more resources are available than the needs and wants, I would call it "abundance".

Else, if there are less resources than needs and wants, the situation can be described as "scarcity"

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