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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
Is economics the study of mankind in the ordinary business of life?
No, economics is the study of how people deal with the condition of scarcity with limited allocations of resources.
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.
How do you deal with people whom are poor but try to make others believe they are wealthy?
Treat them as if they were wealthy. They'll enjoy it and it won't do you any harm.
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
Is economics the study of mankind in the ordinary business of life?
No, economics is the study of how people deal with the condition of scarcity with limited allocations of resources.
What is the basic task that economists expect the market to carry out?
deal with the fundamental problem of scarcity
What is the meaning of wealthy?
"The wealthy" is the plural noun for "wealthy", which means having a great deal of money, resources, or assets; rich.
Explain how scarcity affects everyone?
Scarcity typically induces needs and wants for people.
Who is impacted by the problem of scarcity?
Everyone is impacted by the problem of scarcity at some point in their lives. Some people face water scarcity for example.
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.
