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Scarcity and Choice goes together, how?



Scarcity and choice are inseparable. Discuss

Yes, scarcity and choice are inseparable. It is further cleared by the following:

1. At Consumer Level: Here scarcity is limited income and choice is using the income in such a way that a consumer gets maximum satisfaction from it.

2. At Producer Level: Here scarcity is limited resources and choice is allocation of resources in way that there is maximum production of a commodity and a producer gets maximum profit.

3. At Country Level: Here scarcity is limited natural resources and choice is allocation of national resources in such a manner that there is maximisation of social welfare at the level of country as whole.