Scarcity as an economic concept "... refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good ... ."[1] If the conditions of scarcity didn't exist and an "infinite amount of every good could be produced or human wants fully satisfied ... there would be no economic goods, i.e. goods that are relatively scarce...
One way industrialization led to rising imperialism in the 1800s was that c<span>ountries needed cheap raw materials for their growing industries.</span>
