Question

In a 250 words post, give an example of something that is scarce in your life and explain the choices you've made because of scarcity” support your statement by the logic and arguments.

Answer 1

Scarcity is a term that we generally use in reference of necessity goods or anything which is necessary for us (*not generally for the luxury goods).

Human life is all about utilising resources and getting satisfaction out of it, if this process is hindered by any reason it causes a scarcity and the human tries to overcome it through any other means. Scarcity can be there in anything like if someone wants a digital camera and he is not able to get it, it is a scarce resource for him and he may try to overcome it by using the mobile phone's camera.

Specifically in my life, i am scarce of a car, because where i lives is a very rain attracted area and a car is a necessity kind of good, but as if i don't own a car, I tries to compensate it by my bike somehow.

Hope you understand if so please give a thumps up :)