Q1. List some examples of the scarcity that you face. Scarcity means we cannot always have more of both. n example of scarcity that I faced would be the amount of pocket money] received every month. I have limited ability to spend as much as I want to meet my desire. Let's say I have a monthly allowance of EMBED which is allocated for my toll, parking fee, food which will left with no extra balance. In a scenario of scarcity, if I found a dress that I want which cost me RMEG, I will not have the ability to purchase it as my money is limited. This is because if I spent on the dress, then I will not have enough money to spend on my monthly needs