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What Is Scarcity,and Why Is It a Fundamental Concept in Economics

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What is scarcity,and why is it a fundamental concept in economics?


Definitions:

Unrealised Intragroup Profit

Profit on transactions within a group of companies that has not been realized outside the group, affecting consolidated financial statements.

Opening Inventory

The value of a business's inventory at the start of an accounting period.

NCI Share

Non-Controlling Interest Share, representing the portion of equity in a subsidiary not attributable directly to the parent company owners.

Intragroup Transactions

Deals or exchanges of goods, services, or funds between entities under the same parent company, often used for transferring resources within a corporate group.

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