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4 February, 13:17

An economic term that describes when the needs and wants of a person or group exceed the resources available to meet these needs and wants.

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  1. 4 February, 15:17
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    Answer:scarcity

    Explanation: The resources that we value-time, money, labor, tools, land, and raw materials-exist in limited supply. There are simply never enough resources to meet all our needs and desires. This condition is known as scarcity.
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