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Text:

The study of economics does not dictate the answers , but it can illuminate the different choices . Key Concepts and Summary Economics seeks to solve the problem of scarcity , which is when human wants for goods and services exceed the available supply . A modern economy displays a division of labor , in which people earn income by specializing in what they produce and then use that income to purchase the products they need or want . The division of labor allows individuals and firms to specialize and to produce more for several reasons :

Target

  • Economics seeks to solve the problem of scarcity , which is when human wants for goods and services exceed the available supply .
  • scarcity

Candidates

Please check all the words that can be used instead of the target word in the same context. Note that the morphology of the target (third person singular, past tense etc.) is considered to be applied to the candidate automatically in the process of paraphrasing.

1.excess
2.rareness
3.rarity
4.enough
5.famine
6.surplus
7.abundance
8.lack
9.deficiency
10.plenty
11.drought
12.want
13.shortage
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