Answer to Question #142554 in Economics for Memi

Question

Relative to poverty is scarcity which is also relevant to the unlimited wants and needs of the poor people. What can they do to help themselves if your to be in their position? Provide two minimum real-life examples.

Answer 1

You

There are 2 ways for overcoming scarcity - reducing wants and increasing available resources.

Examples:

1) Energy scarcity can be approached with energy efficiency measures (reducing wants) or developng new energy sources.

2) Food scarcity can be approached with decreased consumption or growing more agricultural products.