The basic principle associated with the economics is that the goods, products, and services are limited and demand increases considerably to produce them. The resources used for the production also increases considerably. The scarcity principle of economics deals with the limited supply of the goods that is coupled with the increase in demand this results in the mismatch between the demand equilibrium and desired supply.
Because traditional economies are characterized as being primarily agricultural, they are prone to stagnation since they rely heavily on weather, which can be unpredictable and pragmatic.
General intelligence refer to general cognitive ability of human mind to solve logical and reasoning problems, complex data problems and verbal reasoning test. This test is generally required after secondary school to get admission in high school. Its meant to test mental capacity to solve unseen reasoning questions.
