There are not enough resources to produce all of the goods and services that everyone wants.
Resources must be allocated because there are not enough resources to produce all of the goods and services that everyone wants.
There are not enough resources to produce all of the goods and services that everyone wants.
There are not enough resources to produce all of the goods and services that everyone wants
if resources were in abundant there would have been no need to study economics why? what is production
When there are limited resources and unlimited need and wants, this is called scarcity. Because of scarcity, plans must be put in place to make sure the available resources are allocated in the most efficient way.
Resources must be allocated because there are not enough resources to produce all of the goods and services that everyone wants.
There are not enough resources to produce all of the goods and services that everyone wants.
There are not enough resources to produce all of the goods and services that everyone wants
if resources were in abundant there would have been no need to study economics why? what is production
When there are limited resources and unlimited need and wants, this is called scarcity. Because of scarcity, plans must be put in place to make sure the available resources are allocated in the most efficient way.
resources
wants
There was a driving need for new markets and more resources
All of your answers are here... assignmentanswers.wix.com/get-that-file#!bsbmgt502b/c1n5l
All of your answers are here... assignmentanswers.wix.com/get-that-file#!bsbmgt502b/c1n5l
in an economy we have limited resources with unlimited want. in order to get the maximum possible solution to meet our desire we need to ensure the optimum use of our resources.
Economics is the study of how best limited resources should be used. In order to do that you first need to know how much of a set of resources are required and that requires basic counting and proportions. You need to know about [revealed] comparative advantage which requires ratios. Study of price elasticities, for supply and demand curves usually requires differential calculus. And so on.