Scarcity, a fundamental economic concept, results from limited resources compared to boundless human wants and needs. It not only affects economic dynamics but also intersects with psychology, influencing human behavior and decision-making. When resources are scarce, individuals may experience stress, prioritize immediate gratification, and suffer cognitively. To break free from this cycle, a comprehensive approach is needed to address both economic and psychological aspects. Listen to this episode to learn the rest!
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