Absence of scarcity would mean absence of economics. Explain with logical reasoning.

Yes,economics in a very basic sense is optimization given the constraints. Scarcity is the biggest and real constraint of our lives.Lets understand with an example,suppose everybody has a lot of money,a lot to buy anything.What would the world look like?Nobody's going to work,no production,no costs,no profits,no exchange rates,no trade,simply there would be no need of any of the economic agents,economic concepts.So,no economics would exist.

Whereas,in reality we as individuals have our income as constraint and we cannot spend more than that.Same goes for the economy as whole, a country makes policy and plans and talks about efficiency ,only because a country has geographical,social,economic and political constraints and it has to make the best out of what it has got.The central problem of economics deals with optimization given the constraints.So,the logic follows.

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This was given by professional Lionel Robbins. According to him " economics is the science that studies human behaviour as a relationship between scarce which have alternative uses. It is defined as science of choice."

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ya. Absence of scarcity means absence of economic because economics include all those things which we need in our daily life and our resouces are scarce..to get the maximum satifaction we form poicies!

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