The science of economics depends on whether society lives in abundance or scarcity. The economy is the careful management of wealth or a system of producing and distributing wealth. Abundance is having more than enough, a great plenty. Scarcity is the belief that nothing is plentiful. It is usually hard to get. Society today is involved in one big competition. People are always competing to get the things they need or want in life that …showed first 75 words of 812 total…

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