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It depends on the resource in question, now doesn't it? If you're working with something made out of sand--either glass or microchips--money's more scarce than resources. I have a whole backyard made out of sand. If I had a whole backyard made out of money...well, I wouldn't be living in THIS house, for one thing! If you make things out of diamond, then the resources are more scarce than money.
What else can I help you with?
Is money more scarce than resources?
It depends on the resource in question, now doesn't it? If you're working with something made out of sand--either glass or microchips--money's more scarce than resources. I have a whole backyard made out of sand. If I had a whole backyard made out of money...well, I wouldn't be living in THIS house, for one thing! If you make things out of diamond, then the resources are more scarce than money.
Is economics all about money?
No, it is mainly about the allocation of scarce resources. There are many different branches of this such as finance, development and game theory, but they are all stemmed from the main economic problem of scarce resources.
Why all goods and services are scarce?
All resources are scarce.
What are resources in terms of economics?
resources are scarce,.the concepts of scarcity arises from the scarce resources or simply resources for short.
What are scarce economic resources?
Resources that are limited and in demand are scarce, and therefore have a cost.
All goods and services are scarce because the resources that compose them are scarce?
Resources are limited .
Which of these statement is false Economics is anout conserving scarce resources Economics is about the use of scarce resources?
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.
What is scarcity of resources?
resources that are scarce
Why goods and services are scarce?
All resources are scarce.
What are the example of scarce resources?
Example of some scarce resources are Oil, Paper, Gasoline and Land etc.
Do scarce resources have lower value?
Scarce resources are known to attract higher prices and thus they are of higher value than those in abundance. Examples of scarce resources include diamonds and gold.
Why are resources scarce?
There are unlimited wants for these resources, but there are only a limited amount of resources in this world. Therefore they are considered scarce.
