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What is the name of the fundamental law of capitalism based on the theory that abundance creates cheaper prices and scarcity leads to expensive prices?
Wiki User
∙ 11y ago
Law of supply and demand.
Wiki User
∙ 11y ago
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What is the opposite of scarcity?
Abundance.
What is abundance or scarcity of wood?
Abundance means that there is a lot of it, while scarcity means that there is very little. This applies to anything, not just wood.
Are Abundance and Scarcity synonyms?
No, they have opposite meanings
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
Show meaning of opposite word for abundance?
scarcity
The fundamental economic problem is?
Scarcity.
What kinds of scarcityare there?
Moral, responsible scarcity exists in abundance.
What is the opposite of the word scarcity?
One antonym would be abundance.
Fundamental concepts underlying the discipline of economics?
Scarcity and Choice
What is a example of uneven distribution in southwest Asia?
abundance of oil but a scarcity of water. :)
How does scarcity affect the factors of production?
Scarcity is the non-abundance of resources. Resources are needed to produce. Thus, the more that is produced, the more resources are being used.
Scarcity and choice?
Economic growth cannot eliminate scarcity and choice. There are no resources that are infinite.Egoism and its 'rational' variant 'capitalism' have a very simple basic principleRead more: Scarcity_and_choice
