Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.
The first European colony in the Delaware Valley was established by Swedish settlers in 1638.
William H. Seward was the Secretary of State
Answer:
Each of the countries wanted to influence a huge chunk of the world especially politically ie. communism vs capitalism
