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"What is scarcity ?"

Pain hidden behind smile

By Md.Khairul AlamPublished about a year ago 3 min read
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"What is scarcity called in the economics class, an elderly sir entered the room and asked the boy sitting in front,,,, tell me, what is scarcity?

The boy is looking at the bench with his head down. He is thinking what to say. Sir again chased "Tell me what is the lack" the boy started saying now!!

1.He took out 20/30 rupees with great difficulty, and after 5/7 minutes after leaving the house, I returned home and gave the rent money to my mother, "Mom! There will be no classes in college today. Mom then told me that I will not know first whether there will be college or not." Also, this hiding is lack!! 💔

2. When father comes home at night, mother asks father why it took so long to return, father says it was overtime. If not overtime, how will the family run, this extra work of father is missing for me!! 💔

3. When my younger sister feels embarrassed to ask her father for private tutoring money at the end of the month, that's what I miss!! she asked to sew the torn cloth, the cloth is very good and can be worn for a few more days.

4. At the end of the month, I hand over the entire tuition money to my mother and tell her, "Mom, you spend it in the family." Then she smiled with relief. The smile of this relief is lacking!!

5. When I hide my normal phone in shame in the crowd of expensive smartphones of my friends, this shame is what I lack!!

6. When the close people slowly move away due to neediness, this moving away is what I lack!! The whole class stood up!! Tears in many eyes!! Sir pulled the boy closer to wipe his tears!! 💝

In fact there are many among our classmates,,,, who wait for months but don't get a little money from home !! He hides all the sorrows and smiles and spends day after day without eating!! Maybe we don't get the chance to understand the pain hidden behind their smile.

***The primary causes of economic scarcity/lack are demand-induced, supply-induced, and structural. Demand-induced refers to when supply remains static and demand grows. Supply-induced is when the supply of a resource is below that of demand, and structural is when a portion of a population does not have the same access to resources as another portion of the population.***

***Social orders can manage shortage by expanding supply. The more labor and products accessible to all, the less shortage will be there in no time flat. Obviously, expanding supply accompanies impediments, for example, creation limit, land accessible for use, time, etc. One more method for managing shortage is by diminishing needs. The less needs, or requests, for specific labor and products that are not essential necessities, for example, food and sanctuary, the less pressure there will be on restricted assets.***

***Relative shortage is the point at which an asset is restricted in supply, normally. This doesn't have anything to do with an organization not making sufficient stock but instead that there is just a specific measure of an asset accessible in the world. Notwithstanding, relative shortage likewise alludes to supply comparable to request. For instance, oil. However there is a wealth of oil this moment, there is a limited sum accessible, which eventually, can not fulfill need. It is a relative shortage. Outright shortage likewise alludes to an asset being normally restricted however not corresponding to request. The best illustration of this would be time. 24 hours in a day, seven days in seven days, and 52 weeks in a year. Time is an outright shortage.***

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Md.Khairul Alam

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