The economy is the field that deals with the use of natural resources, the production of goods, trade, consumption, among other aspects in societies. All of these are regulated by principles that describe the relationship between different elements, basic principles include cost-benefit, supply/demand, and scarcity or limitation of resources as this influences whether needs are fulfilled and the production of certain goods, for example, limited availability of cotton would decrease the production of cloth. According to this, one economic principle is that resources are limited.
