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Economic systems are created by people to deal with the problems of what?
Wiki User
∙ 14y ago
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.
Wiki User
∙ 14y ago
Wiki User
∙ 14y agoscarcity
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What do the economic systems of other countries have in common with the economic system of the US?
They face the same basic economic problems
Why are economic systems needed?
Economic systems are needed to help control the power in the people and the government. Thus for different countries with different powers relates to the different types of economic systems.
How are economic systems structured to meet the needs and wants of different societies?
Depending on the society's wants and needs the different economic systems are created to make it fair but also make it work, make people listen, and make the rules/laws easy enough to follow.
What are the problems of using the unemployment rate as an indicator of economic health?
There are a few problems with the unemployment and the economic health. The main problem is people not wanting to work.
What economic systems are the basic economic questions answered by the way people have lived over a long period of time?
Traditional Econmy
What do the economic systems of other countries have in common with the economic system of the US?
They face the same basic economic problems
How are people affected by economic problems?
People are affected by economic problems because their is no work and there is no money to pay their expenses.
Why are economic systems needed?
Economic systems are needed to help control the power in the people and the government. Thus for different countries with different powers relates to the different types of economic systems.
What new problems occurred after Sumerian farmers created irrigation systems?
they felt like the needed to help the other people
How are economic systems structured to meet the needs and wants of different societies?
Depending on the society's wants and needs the different economic systems are created to make it fair but also make it work, make people listen, and make the rules/laws easy enough to follow.
Economic system are created by people to deal with the problem of?
Economic system are created by people to deal with the problem of?
When was Some People Have Real Problems created?
Some People Have Real Problems was created in 2007.
When was Other People's Problems created?
Other People's Problems was created on 2006-05-29.
What are the problems of using the unemployment rate as an indicator of economic health?
There are a few problems with the unemployment and the economic health. The main problem is people not wanting to work.
Why have countries in central Asia faced economic problems?
These were some of the poorest countries in the world. When they gained Independence they had a hard time standing on their own. Also economic practices during the soviet era have created problems. And central Asia is home to many types of people that have hatred for eachother , so that pretty much craeted problems.
What economic systems are the basic economic questions answered by the way people have lived over a long period of time?
Traditional Econmy
What are some problems that affect aquatic systems?
because animals that are aqutic people polut and so animals have problems
