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Answer to Question #62354 in Other Economics for rebecca

Question #62354
"Economics is inrelevant in the world of abandance "discuss the visibility of the above statement?
Expert's answer
Fundamental problem of economics is satisfaction of demand with limited resources. Seemingly, in the world of abundant resources fundamental problem of economics is being solved.
However, model of interaction between people in the abundant world will change. Possibly new material problems will arise. Therefore, economics will shift its focus to them and this area of knowledge still will be relevant.

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