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demand will always be greater then supply
Helen O'Kon
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What is the basic fact of economic life?
Scarcity
Why scarcity is a basic fact of life according to economic theory?
Demand will always be greater than supply.
Which of the following explains why scarcity is a basic fact of life?
demand will always be greater than supply
The phenomenon of scarcity stems from the fact that?
That fact there are limited resources
The basic ingredients in any economic decision are?
scarcity and choice
What is the basic fact of economic life?
Scarcity
Why scarcity is a basic fact of life?
demand will always be greater then supply
Why scarcity is a basic fact of life according to economic theory?
Demand will always be greater than supply.
Which of the following explains why scarcity is a basic fact of life?
demand will always be greater than supply
What is relative scarcity?
Relative Scarcity is the fact that something is relatively scarce
What is the difference between poverty and scarcity?
poverty applies to people (lacking in wealth or lacking in the basic necessities to sustain life). scarity applies to resources. (lacking in amount or in supply) a person is impoverished. there can be a scarcity of food. a person is not scarcity. food is not impovershied.
The phenomenon of scarcity stems from the fact that?
That fact there are limited resources
What are the different kinds of scarcity in daily life?
what are the different kind of scarcity in our daily life
What is the topic of scarcity?
Scarcity is a basic economic problem that stems from unlimited wants and limited resources to satisfy the numerous wants.
The basic ingredients in any economic decision are?
scarcity and choice
What caused the nation to have to answer the three basic economics questions?
Scarcity of resources
What are the three main elements of the basic economic problems?
scarcity,choice ,demand
