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Are there enough resources in the world to satisfy everyone wants?
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A nation will never have enough resources to satisfy the wants and needs of the people.?
true
What is scarcity and how does scarcity influence opportunity cost?
Scarcity is a situation where there is not enough to satisfy everyone's wants.
A nation through careful planningcan have enough resources to satisfy the total wants and needs of all citizens?
false
It is possible for a nation through careful planning to have enough resources to satisfy the total wants and needs of all citizens?
False.
Why do economists need to find the answer to all three of the basic questions?
There are not enough resources to satisfy people's seemingly unlimited wants.
Why do resources need to be allocated in the game of economics?
There are not enough resources to produce all of the goods and services that everyone wants.
Why resources need to be allocated in the game of economics?
There are not enough resources to produce all of the goods and services that everyone wants.
How do you we satisfy unlimited wants with limited resources?
ferns
Which best answer explains why resources need to be allocated in the game of economics?
There are not enough resources to produce all of the goods and services that everyone wants
Which best explains why resources need to allocated in the game of economics?
Resources must be allocated because there are not enough resources to produce all of the goods and services that everyone wants.
Why is resources scarce?
The amount of land available cannot satisfy the needs and wants of everyone. this is because population increases yet land stays the same. therefore it is scarce.
How do you satisfy unlimited wants with limited resources?
How do you make choices from limited resources?
