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Is study of economics necessary in a situation of abundant resources?
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∙ 6y ago
Emmanuel Ansumana
Yes
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Is the study of economics necessary in a situation of abundant resources?
is the study of economics necessary in a situation of abundant
If resources were abundant there would have been no need to study economics?
if resources were in abundant there would have been no need to study economics why? what is production
The study of economics is necessary in a situation of abundance resources?
is the study of economics necessary in a situation of abundant
Is economics inrelevant in absence of scarcity?
Scarcity is a relative aspect. Consider there is 'abundant' X and also 'abundant' Y but the consumer has to decide how much Income (Income may also be considered abundant) to allocate between X and Y (Now though both abundant they may be relatively scarce i.e. when compared to each other), and this is done from his perception of utility which is an economic concept. So economics is also the study of optimal allocation, in scarce or abundant scenario.
What are the effects of abundant resources on country's economy?
It stimulates the economy
Is the study of economics necessary in a situation of abundant resources?
is the study of economics necessary in a situation of abundant
If resources were abundant there would have been no need to study economics?
if resources were in abundant there would have been no need to study economics why? what is production
The study of economics is necessary in a situation of abundance resources?
is the study of economics necessary in a situation of abundant
What do Canada abundant water resources allow it to product?
what do Canada abundant water resources allow it to produce
What are the most abundant resources of North Korea?
There are no abundant resouces
Does Romania have an abundant energy source?
Romania has energy resources but not so abundant.
What are two most abundant resources in Eastern Central Europe?
The two most abundant resources of Eastern Central Europe are coal and forests.
What are three abundant resources in US?
wast,
What factors have helped make the region prosperous?
Abundant natural resources and abundant skilled workers
Why you need to have abundant energy resources?
A person may need to have abundant energy resources for conserving energy. This allows a person to use alternative resources of energy, like solar energy for their home versus traditional electricity.
Did female cavemen hunt?
some surely did, depending on how bad the situation was. Humans in the very old era never had abundant amount of food, so having more hunters was necessary sometimes.
Is economics inrelevant in absence of scarcity?
Scarcity is a relative aspect. Consider there is 'abundant' X and also 'abundant' Y but the consumer has to decide how much Income (Income may also be considered abundant) to allocate between X and Y (Now though both abundant they may be relatively scarce i.e. when compared to each other), and this is done from his perception of utility which is an economic concept. So economics is also the study of optimal allocation, in scarce or abundant scenario.
