Scarcity = limited resources of the earth. Developed countries have better technology and organization to deal with scarcity, but scarcity is still there
Microeconomics deals with the study of how individuals, including individual groups deal with scarcity. Macroeconomics deals with the study of how combinations or aggregates of individuals deal with scarcity.
market allocation
deal with the fundamental problem of scarcity
They decide on an amount as to what each person will receive then divide it up based on your household
Scarcity = limited resources of the earth. Developed countries have better technology and organization to deal with scarcity, but scarcity is still there
Microeconomics deals with the study of how individuals, including individual groups deal with scarcity. Macroeconomics deals with the study of how combinations or aggregates of individuals deal with scarcity.
Market Allocation.
market allocation
deal with the fundamental problem of scarcity
Distribution effects market economies because they will have to deal with scarcity, and with scarcity, they cant have as many things. The distribution will allow a widespread of things to occur.
by croping in 2 season
first come, first servedcommand allocationmarket allocationsharing equally
They decide on an amount as to what each person will receive then divide it up based on your household
The basic economic problem is about scarcity and choice, which every society has to deal with.
No, economics is the study of how people deal with the condition of scarcity with limited allocations of resources.
the answer to this question is scarcity of fertile land or shortage of labor