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Scarcity as an important factor of money.
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[QUOTE="Jasz, post: 262815, member: 61772"] So many fail or refuse to understand the concept of money scarcity. Money is a medium of exchange. When money becomes scarce, it represents a limited resource and has value in terms of its ability to facilitate trade. Scarcity can be defined as the inability to produce more of something. There are two kinds of scarcity: absolute and relative scarcity. Absolute scarcity is when you have only one unit available; relative scarcity occurs when there are more units than you need but not enough for everyone who wants them. In a world where money exists, goods and services can be traded for goods and services that have limited availability. If there is too much money in circulation, however, it will take longer for people to get what they want because it will be more expensive for them to acquire goods and services that have become scarce due to being in high demand by others. [/QUOTE]
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Scarcity as an important factor of money.
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