In economics, scarcity is the problem of infinite human needs and wants, in a world of finite resources. In other words, society doesn't have sufficient productive resources to fulfill those wants and needs. Alternatively, scarcity implies that not all of society's goals can be pursued at the same time; trade-offs are made of one good against others. In an influential 1932 essay, Lionel Robbins defined economics as "the science which studies human behaviour as a relationship between ends and sca… (More on Scarce)