The overlap between groups has diminished in America's residential neighborhoods and workplaces.
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.
Scarcity dictates that economic decisions must be made regularly in order to manage the availability of resources to meet human needs. Some examples of scarcity include: The gasoline shortage in the 1970's. Coal is used to create energy; the limited amount of this resource that can be mined is an example of scarcity.
Scarcity is simply the concept that human wants (not human needs) exceed the resources available that are necessary to produce the goods used to satisfy those wants. Since economics is the study of how people make choices, without scarcity there would exist no choice and, hence, no economics.
Hope this helps:)
<h2>
Spanish Empire:</h2>
1. The Spanish claim colonies in the Americas
2.The Spanish take gold and silver from the Americas
3.Gold and silver fund Spain's “golden century"
The earliest event which helped Spain's rise as a major world power was the proclamation of colonies in the Americas. After Columbus accidentally discovered the Americas, Spanish showed interest in the new world. And due to the In<em>ter caetera</em> papal bull of 1493 , the Spanish Empire could solidify its claimed over those lands. After that, the globe was divided into 2 hemispheres between Spain and Portugal.
Then came the moment, when the Spanish started taking gold and silver from the Americas. Exploiting the Americas' silver and gold mines became the Spanish's mainly fund source for a long series of European and North African wars.
And finally because of that fund source, Spanish enjoyed a cultural golden age in between XVI and XVII centuries, which is commonly known as the "golden century".
