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Scarcity is the non-abundance of resources. Resources are needed to produce. Thus, the more that is produced, the more resources are being used.
Wiki User
∙ 15y ago
Wiki User
∙ 14y agoHow does scarcity affect how to produce and how to distribute
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What is characteristic of the factors of a production?
Scarcity
How does scarcity play a role in the factors of production?
it plays a role in the factor of production because if there is none, companies can produce more with a higher selling price.
How does scarcity affect producers?
Scarcity of availability causes producers to either charge higher prices or to produce more goods and services (like energy production, cars, paper, etc.)
How do the four factors of production affect the economy?
Production factors are essentially the resources needed to produce something. The four generally recognized production factors are land, labor, capital, and either entrepreneurship or time, according to different economists.
Explain the economic problems between the city dweller and the farmers?
Scarcity is our limited resources but unlimited wants. Our resources are limited by the 4 factors of production - land, labour, capital and enterprise. The problem of scarcity is that our wants are always beyond what we can produce with our resources. porn
What is characteristic of the factors of a production?
Scarcity
Is a characteristic of the factors of production?
Scarcity
What is the characteristic of the factors of the production?
Scarcity
When some factors of production can perform task more efficiently than others?
scarcity
Are the varoius factors of production affect by globel competition?
Are the varoius factors of production affect by globel compitition
How does scarcity play a role in the factors of production?
it plays a role in the factor of production because if there is none, companies can produce more with a higher selling price.
How does scarcity affect producers?
Scarcity of availability causes producers to either charge higher prices or to produce more goods and services (like energy production, cars, paper, etc.)
How do the four factors of production affect the economy?
Production factors are essentially the resources needed to produce something. The four generally recognized production factors are land, labor, capital, and either entrepreneurship or time, according to different economists.
What are the factors that affect the supply?
There are many factors that affect labor supply. In most cases, this will be determined by the wage rate of the particular industry and the production level expected among other factors.
What are the risks in farming?
scarcity of factor of production land
What are several factors that could affect the production of wine?
temperature, grapes quality, lack of skilled staff during production
What are the factors that affect labor supply?
There are many factors that affect labor supply. In most cases, this will be determined by the wage rate of the particular industry and the production level expected among other factors.
