economics is all about making choice in the presence of scarcity.. explain?
Dear Student,
This topic covered in our study material. You can find it at the below mentioned link and scroll down to the topic 'Scarcity of Resources and Problem of Choice'.
https://www.meritnation.com/cbse/class12-commerce/studymaterial/economics/introductory-microeconomics/introduction/338_1980_5801#slide1_Central Problems of an Economy and the Concept of Production Possibility Frontier
This topic covered in our study material. You can find it at the below mentioned link and scroll down to the topic 'Scarcity of Resources and Problem of Choice'.
https://www.meritnation.com/cbse/class12-commerce/studymaterial/economics/introductory-microeconomics/introduction/338_1980_5801#slide1_Central Problems of an Economy and the Concept of Production Possibility Frontier