0
Which economic theory states that the basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Wiki User
∙ 11y ago
For A+ : Socialism
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoThis is the socialist theory.
Add your answer:
Earn +20 pts
The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.?
Socialism (A+)
In a socialist economy how are the basic problems of scarcity and allocation of limited resources addressed?
By production for use or need.
What are some economics problem?
Economic problems relate to production of goods and services for consumptions with the scarcity of resources and the choices with the allocation of the available resources for production.The modern theory looks into the problem of level of income and employment,investment,savings,production and consumption including exports.
What describes The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Socialism
What type of economic model fits this description The basic problems of scarcity and allocation of limited resources are solved by production for the use or need rather then production for profit?
You need to answer this question because we don’t do homework and your teacher is looking for your critical thinking skills and how well you understood the lesson.
The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.?
Socialism (A+)
In a socialist economy how are the basic problems of scarcity and allocation of limited resources addressed?
By production for use or need.
What are some economics problem?
Economic problems relate to production of goods and services for consumptions with the scarcity of resources and the choices with the allocation of the available resources for production.The modern theory looks into the problem of level of income and employment,investment,savings,production and consumption including exports.
What describes The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Socialism
What type of economic model fits this description The basic problems of scarcity and allocation of limited resources are solved by production for the use or need rather then production for profit?
You need to answer this question because we don’t do homework and your teacher is looking for your critical thinking skills and how well you understood the lesson.
What statement does not describe a market economy?
The problems of scarcity and allocation of resources are addressed by production for use or need rather than productio for profit.
What type of economy best fits this description The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Mixed Capitalism
How managers solves the problems of choices and allocation of resources?
They see the steps of a nomadic lifestyle to conquer there problems.
Answer to the 3 basic economic problems?
The three basic economic problems are what to produce, how to produce, and for whom to produce. These problems stem from scarcity of resources and unlimited wants. Economies must allocate resources efficiently to address these issues.
What are the social values of insurance?
- facilitate the rational allocation of resources - competition among the industrials can be contributed - help on the stabilization of the production and social status - the foundation of credibility - solve the consistent of the social problems
Which does not describe a market economy?
The problems of scarcity and allocation of resorce are addressed by production for use or need rather than production for profit A+
Explain what is meant by the basic economic problem?
Economic problem is the problem regarding allocation of limited resources for the production of alternative goods and services. in other words, economic problem is the 'problem of choice'. Since the resources are scarce and they have alternative uses, there arises the problem of choice regarding the use of these resources. The law of scarcity states that goods are scare because there are not enough resources to produce all goods that people want to consume. Thus, Economic Problem is the 'problem of relative scarcity' and the 'problem of choice' arising therefrom.The basic economic problems of an economy are given below:What to produce and how much to produce?How to produce?For whom to produce?Problem of fuller utilisation of resources.Problem of efficiency in utilisation of resources.Problem of economic growth.
