wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Which goods are known as scarce goods?


Open in App
Solution

Goods and services that are available only at a point of existence are called scarce goods. For example, gold, labour, oil, tools, machinery, land, and raw materials.

Also see:


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Statement of Profit and Loss
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon