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The next best alternative use of money and time or resources to produce all the things people would like to have?
Wiki User
∙ 11y ago
opportunity cost
Wiki User
∙ 11y ago
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This is the condition that results from society not having enough resources to produce all the things people would like to have?
Scarcity
What occures when you lack the resources to produce the things you want?
Scarcity
What are the means through which you produce the things you need and want are called resources?
Yes
What is scarcity and why does scarcity always exist?
They occur whenever we dont have enough resources to produce all the things we like to have. By : Taylor S Locklear
How did the factory system effect the economy?
People didn't have to work as hard to get things they needed. Resources and other things were there and easy to buy.
What are the three main kinds of resources and how is each one define?
The three main kinds of resources are natural, human, and capital. Natural Resources are gifts of nature, human resources are skills people have to produce goods and services, and capital resources are the things people make, such as machines and equipment, to produce goods and services.
What is the significance of scarcity to the teachers?
lack of resources to produce things people want
This is the condition that results from society not having enough resources to produce all the things people would like to have?
Scarcity
Occurs when we lack the resources to produce the things we want?
sarcity
What occurs when we lack the resources to produce the things we want?
scarcity
What occures when you lack the resources to produce the things you want?
Scarcity
How would the world be different without rubber?
we would have to use alternative resources to get things done.
What are the means through which you produce the things you need and want are called resources?
Yes
How is geothermal gathered?
Geothermal energy is one of the many forms of alternative energy that come from renewable resources. This type of energy is gathered through heat collectors in the ground and then processed to produce many things including heating and electricity.
Why does location affects natural resources?
Location affects natural resources because not all things grow everywhere, and not all regions of the world produce the same things.
When does scarcity occur?
Whenever we do not have enough resources to produce all the things we would like to have. ======================================================= There exists insufficient goods, products, for a society, people. Some say humans will, always, want more than resources can provide.
How are the three kinds of resources can be defined?
Natural is defined as "gifts of nature, such as forest, fertile, soil, and water." Human is defined as "the skills people have to produce goods and services." Capital is defined as "the things people make, such as machines and equipment, to produce goods and service."
