Scarcity implies that resources are limited and are not available as much as required/demanded. Resources are scarce and due to which an important question need to be answered. That question is, "How to allocate scarce resources among various needs/wants?" If there were no scarcity, there would be no need for finding how to allocate resources inefficiently. If we recall, we will find that the study of economics is the study of deciding how to allocate resources so that their use can be made in the best possible way. Resources are scarce is the underlying assumption of economics. Therefore, if there would be no scarcity, there would have been no science of economics.