7.12.2015

Resource scarcity



Scarcity of resources also means the situation when we have to determine the number of options (alternate) and the expense of other options. The resources that have been utilized for a specific purpose, can not be used for other purposes.

Example
a. Farmers are already using land (natural resources) as well as sugarcane land can not make it as a wetland.
b. A teacher (labor resources) that have been assigned to teach classes that one may not teach another class to learn the same hour.
c. With allowance (source of capital) amounting to Rp 10,000, - a student must choose: to buy stationery or a movie.

Thus, the scarcity of resources in economic science can be formulated in two different ways:
• limited in the sense of not enough, compared with the number of human needs.
• limited in the sense that it takes sacrifice to get it.

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