Scarce Resources Definition. Scarce resources are used to produce scarce goods. Scarce resources are the workers equipment raw materials and organizers used to produce scarce goods.
Meat and butter were scarce during the war. When sales demand is in excess of production capacity for a company the resources responsible for limiting the output should be identified these scarce resources are known as limiting factors within a short term time period it is unlikely that production constraints can be removed and additional resources acquired. Scarcity is a perpetual problem for economic theory which often assumes that humans have unlimited wants but must find ways to fulfill these wants using scarce resources.
Scarce resources are also called factors of production.
Insufficient to satisfy the need or demand. When sales demand is in excess of production capacity for a company the resources responsible for limiting the output should be identified these scarce resources are known as limiting factors within a short term time period it is unlikely that production constraints can be removed and additional resources acquired. The resources of an organization or person are the materials money and other things. Scarce resources are the workers equipment raw materials and organizers used to produce scarce goods.
