What does the term scarcity mean as it relates to economics?

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.

the historians cited in the article all agree with one another about the cause of the civil war. despite coming from different backgrounds and cultures, the historians agree that slavery was the root cause of the civil war. the fact that all these historiansgenerally agree with one another makes their shared viewpoints more reliable and valid, especially because the historians have different backgrounds and all work for the well-respected institutions of howard university, clemson university, and the university of colorado.