The document discusses the concept of scarcity and its causes. It defines scarcity as limited availability of resources where demand exceeds supply. Scarcity arises due to natural limits on resources, limitations of technology, poor planning, and the gap between unlimited human wants and limited resources available. The key ways to manage scarcity are through proper planning and use of techniques to maximize production of insufficient resources. This addresses the economic questions of what to produce, how to produce, and for whom to produce in order to minimize scarcity conditions. Scarce resources take on market value, which can lead to inflation if demand is high and supply is low.

1. Presentation on-: Scarcity and its role By- ShubhamSinghal AkashBharti

3. During Famine period, food is ‘scarce’ i.e. Scarcity of food.

5. When supply of onion in market is not enough to meet the demand, that condition can be referred as Scarcity of Onions.

6. In arid areas, like Rajasthan, there is lack of water i.e. supply of water≠ its demand. This condition is called scarcity of water.

9. If ‘needs’=‘have’

10. If through spiritual practice and detachment you had very few desires – e.g. a monk or sannyasin then you would not see scarcity – as you would be content with just your daily bread.

11. If you lived on an island with abundant resources and a small population, then the scarcity of resources would be less obvious

13. What to produce?

14. How to Produce?

19. Thank You