cite this statement: Principle of scarcity: The principle of scarcity posits that resources include inherent limitations, rendering them insufficient to satisfy the entirety of our desires and necessities. Hence, it is imperative to engage in decision-making processes about the allocation and utilization of resources. Given the scarcity of resources, Mayor Wu must consider the concept of opportunity cost when making decisions on the allocation of resources towards the recruitment of more police personnel. The allocation of finances towards recruiting may have the potential to divert resources from other urgent matters within the city, such as education, healthcare, or community initiatives