All nations face the problem of scarcity because they have limited factors of production or resources to cater for the unlimited wants of their populations.

All nations face the problem of scarcity because they have limited factors of production or resources to cater for the unlimited wants of their populations.

All nations face the problem of scarcity because they have limited factors of production or
resources to cater for the unlimited wants of their populations. The fact that these resources do
not meet the wants as required is what is referred to as scarcity.

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