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Why do resources need to be allocated in the game of economics?
There are not enough resources to produce all of the goods and services that everyone wants.
Why resources need to be allocated in the game of economics?
There are not enough resources to produce all of the goods and services that everyone wants.
What is a lack of goods or services called?
what is a lack of goods and services called
Which best answer explains why resources need to be allocated in the game of economics?
There are not enough resources to produce all of the goods and services that everyone wants
Which of the following best explains why the game of economics cannot eliminate scarcity?
There are not enough resources to produce all of the goods and services that everyone wants.
What is a business that produces goods or services called?
A business that produces goods or services is called an industry.
What are Goods or services bought with other goods or services called?
This is the barter system.
What is it called when you have money to buy goods or services?
If you have money to buy goods and services you are said to be 'solvent'. When you have no money to by goods and services you are said to be 'insolvent'.
When money is not used and goods and services are exchanged for other goods and services this system is called?
It's called TRADE BY BARTER.
Which best explains why resources need to allocated in the game of economics?
Resources must be allocated because there are not enough resources to produce all of the goods and services that everyone wants.
Manufactured goods needed to produce other goods and services are called?
Capital Goods.
What is a system of allocating scarce goods and services using criteria other than price called?
A barter system, where people trade their goods and services for other goods or services as opposed to trading goods and services for money.
