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The study of how you make decisions in a world where resources are limited?
Wiki User
∙ 12y ago
economics
Wiki User
∙ 12y ago
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Do you have sufficient resources to meet the world Demand?
My resources are limited
What are the worlds resources?
There are a great many resources in the world. These resources include but are not limited to water and minerals.
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.
How do individuals satisfy their unlimited wants in a world with limited resources?
Obviously they can't and don't
What issue results from the combination of limited resources and unlimited wants?
The economic concept of Scarcity is where humans have unlimited needs and wants, but the world has limited resources to meet all those demands.
What is the law of scarcity in economics?
Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants, in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. ...
Why is the study of economics important?
The study of economics is important because without it we would not be able to understand the impact of the developments in business, society, and the world economy. It also allows us to comprehend the decisions of households, firms, and government based on human behavior, beliefs, structure, constraints, and needs. The study of economics is important in the sense that it teaches us how to make rational use of our scarce resources in order to meet our unlimited wants.
Why is the study economics important?
The study of economics is important because without it we would not be able to understand the impact of the developments in business, society, and the world economy. It also allows us to comprehend the decisions of households, firms, and government based on human behavior, beliefs, structure, constraints, and needs. The study of economics is important in the sense that it teaches us how to make rational use of our scarce resources in order to meet our unlimited wants.
Why the study is important?
The study of economics is important because without it we would not be able to understand the impact of the developments in business, society, and the world economy. It also allows us to comprehend the decisions of households, firms, and government based on human behavior, beliefs, structure, constraints, and needs. The study of economics is important in the sense that it teaches us how to make rational use of our scarce resources in order to meet our unlimited wants.
What resources are available to help cheating husbands?
There are a large number of resources that are available to help cheating husbands. These include, but are not limited to, Truth About Deception, Dr. Phil, and First Wives World.
Should Hitler be considered a hero considering how overpopulated and limited your natural resources would be today and how overpopulated the world would be?
No. Murder is not the answer to overpopulation.
Does the traditional profit maximization model hold relevance in modern world?
Yes, the traditional profit maximization model still applies because resources are still limited. To make sure you are getting the most money, you have to consider what generates the most profit based on limited resources and other constraints.
