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The condition that exists wants exceed the available resources?
Scarcity
As a consequence of the condition of scarcity.....?
Individuals and communities have to make choices from among alternatives.
Which economic condition would most likely cause the price of a product to rise?
scarcity
The basic economic condition that exists when unlimited wants exceed limited productive resources is called?
Scarcity
This is the condition that results from society not having enough resources to produce all the things people would like to have?
Scarcity
What does scarcity means?
scarcity is the condition of being scarce or less. Usually associated with a certain quantity. Like scarcity of water in a desert. Scarcity of rain in a region
The condition that exists wants exceed the available resources?
Scarcity
As a consequence of the condition of scarcity.....?
Individuals and communities have to make choices from among alternatives.
How much is a 1579 coin worth?
It will depend on the scarcity, condition and metal used.
What is ment by economic resources?
Inputs used in production to meet the utility satisfaction in the condition of scarcity.
Which economic condition would most likely cause the price of a product to rise?
scarcity
What terms describes the condition that there are not enough resource to meet all needs and wants?
true
The basic economic condition that exists when unlimited wants exceed limited productive resources is called?
Scarcity
This is the condition that results from society not having enough resources to produce all the things people would like to have?
Scarcity
What is the value of the 36 inch tender heart care bear?
It all depends on the condition, the age, and the scarcity of the plush.
How much would a matchbox car be worth now?
It depends on the history the condition and the scarcity of the car that is being sold
Multiplicity of wants and scarcity of means are two foundation stones of economics?
Economic problem in essence is the problem of scarcity of resources in comparison with human wants. In everyday life, we encounter many economic problems, poverty, unemployment, inflation etc, but if we start analyzing them, we will find that every problem has it's roots in the fundamental problem of scarcity of resources. Scarcity forces choices in consumption and production of goods. Scarcity creates conflicts. Scarcity means that not every body is getting everything he wants and there will be losers and winners. Scarcity arises because of two underlying conditions: Physical condition, that is, limited productive resources and a mental condition that is , unlimited wants. Physical limits do not alone-establish scarcity-in an economic sense. It is the human wants which make resources insufficient. Wants are unlimited, people want much more than just necessities. So the bitter fact is economic problem is permanent.
