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How do you deal with scarcity?
You conserve.
Why is the concept of scarcity important in rich countries as well as poor ones?
Scarcity = limited resources of the earth. Developed countries have better technology and organization to deal with scarcity, but scarcity is still there
What is the micro and macroeconomics?
Microeconomics deals with the study of how individuals, including individual groups deal with scarcity. Macroeconomics deals with the study of how combinations or aggregates of individuals deal with scarcity.
Which system is used to deal with scarcity in the US?
market allocation
Economic systems are created by people to deal with the problems of what?
The fundamental problem that economics attempts to counter is that of scarcity. One of my economics teachers once said that just as an astrophysicist works to defy gravity, economists and businesses want to defy scarcity. Because there is limited land, capital, labor, time, etc., economics tries to allocate these resources in the market so that enough goods can be produced to satisfy all participants as much as possible.
How do you deal with scarcity?
You conserve.
Why is the concept of scarcity important in rich countries as well as poor ones?
Scarcity = limited resources of the earth. Developed countries have better technology and organization to deal with scarcity, but scarcity is still there
What is the micro and macroeconomics?
Microeconomics deals with the study of how individuals, including individual groups deal with scarcity. Macroeconomics deals with the study of how combinations or aggregates of individuals deal with scarcity.
Which system is used to deal with scarcity in Australia?
Market Allocation.
Which system is used to deal with scarcity in the US?
market allocation
How does governments deal with equality?
very
Economic systems are created by people to deal with the problems of what?
The fundamental problem that economics attempts to counter is that of scarcity. One of my economics teachers once said that just as an astrophysicist works to defy gravity, economists and businesses want to defy scarcity. Because there is limited land, capital, labor, time, etc., economics tries to allocate these resources in the market so that enough goods can be produced to satisfy all participants as much as possible.
What is the basic task that economists expect the market to carry out?
deal with the fundamental problem of scarcity
Discuss the use of indirect taxes and subsidies by governments to deal with externalities?
discuss the use of indirect taxes and subsidies by governments to deal witn externalities
How does distribution effect market economy?
Distribution effects market economies because they will have to deal with scarcity, and with scarcity, they cant have as many things. The distribution will allow a widespread of things to occur.
How did Andrew Johnson deal with the governments in the south?
bananas
How did ancient Egyptian farmers deal with the scarcity of land and water for growing crops?
by croping in 2 season
