Scarcity In The Canadian Economy Canadian economy is facing an economizing problem – Scarcity. This happens when the material wants are virtually unlimited and insatiable, while economic resources – the means of producing goods and services – are limited or scarce. It is quite true that in our affluent society resources are more plentiful that they have been for any other nation or for any other time in history; nonetheless, we describe them as scarce, because they are scarce relative to the wants of the people in our society. For example, Canadian farmers produce almost 500 million dozen eggs a year. But if grocers distributed these eggs free, we would soon find that if we happened to arrive at the market after lunch, all of the eggs would be gone. Then we would agree that eggs were scarce. Human wants keep changing and growing. Some derive from basic needs. Others a....

Number Of Pages: 3

Number Of Words: 710

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