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Scarcity is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. The item needed could be a basic human need, and not just one based upon an economic want. Such as the NEED for clean drinking water and even healthcare as seen in third world countries. These such things are a scarcity in many parts of our world. Therefore, needs, not just wants or desires.