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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 is scarce 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.
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.
How do you put savings and scarce in a sentence?
When money is scarce, you may need to use some of your savings.
Why the demand for bread is more inelastic than compac discs?
'Cause people need food more than thay need CDs. If money is scarce, they buy food first, luxuries later.
What was more scarce in the Great Plains than in the East?
Buffalo
Was more scarce in the Great Plains than in the East.?
Buffalo
What does being wealthy mean?
Being wealthy means having more than sufficient money and resources.
Why do command economies believe that an authoritarian system is more efficient than the price system for allocating scarce resources?
Command economies believe that an authoritarian system is more efficient than the price system for allocating scarce resources because it allows for centralized decision-making and the direct control of resources. This can lead to quicker implementation of policies and the ability to prioritize national goals over individual interests, thereby avoiding market inefficiencies and fluctuations. Additionally, it aims to ensure equitable distribution of resources, which proponents argue can reduce inequalities inherent in market-driven economies.
Is it correct to say you have more money than I or you have more money than me?
You have more money than I have --- therefore, it is "You have more than I."
Is Economic the social science concerned with the best use of scarce resources to achieve maiximum satisfaction of economic wants?
The best answer is "not exactly." The most popular definition of economics is the social science which studies the allocation of scarce resources to alternate and competing ends. Economics is more concerned with "optimality" (e.g. "best" use) rather than simply maximization of, for example, consumer satisfaction.
What does 'rich beyond your dreams' mean?
The expression "rich beyond your dreams" means having more money and resources than you could possibly use in your entire lifetime. The idea is having more money than you can even imagine.
What does specialization means in social study?
Nations use their scarce resources to produce those things that they produce better than other countries.
