Scarce resources are usually allocated to a given market system based on the demand. In most cases the resources are usually assigned to markets that have a great demand.
Scarce resources are allocated to those who are willing and able to pay the most in a free economy.
economics is the social science that deals with how the society allocates its scarce resources among its unlimited wants and needs
the government
market failer
All resources are scarce.
Scarce resources are allocated to those who are willing and able to pay the most in a free economy.
economics is the social science that deals with how the society allocates its scarce resources among its unlimited wants and needs
the government
market failer
All resources are scarce.
resources are scarce,.the concepts of scarcity arises from the scarce resources or simply resources for short.
Resources that are limited and in demand are scarce, and therefore have a cost.
resources that are scarce
Resources are limited .
Economics doesn't truly care about the conservation of scarce resources, it only cares about how those scarce resources are used. The statement 'Economics is about conserving scare resources' is false.
All resources are scarce.
Example of some scarce resources are Oil, Paper, Gasoline and Land etc.