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That fact there are limited resources
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∙ 12y ago
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What is the basic fact of economic life?
Scarcity
How does the study of economics depend upon the phenomenon of scarcity?
Economics is the study of how society manages its scarce resources therefore, the study of economics is only important because of the scarcity of resources. Higenyi
The natural fact of scarcity leads to the necessity of making choices?
true
Why scarcity is basic fact of life?
demand will always be greater then supply
Why scarcity is a basic fact of life according to economic theory?
Demand will always be greater than supply.
What is the topic of scarcity?
Scarcity is a basic economic problem that stems from unlimited wants and limited resources to satisfy the numerous wants.
What is relative scarcity?
Relative Scarcity is the fact that something is relatively scarce
What is the basic fact of economic life?
Scarcity
How does the study of economics depend upon the phenomenon of scarcity?
Economics is the study of how society manages its scarce resources therefore, the study of economics is only important because of the scarcity of resources. Higenyi
How are woody stems and herbaceous stems similar?
There are no differences; in fact they are completely unrelated to plants
What is an observable fact or event?
Phenomenon
The natural fact of scarcity leads to the necessity of making choices?
true
The natural fact of scarcity leads to the necessity of making choices.?
true
Why scarcity is basic fact of life?
demand will always be greater then supply
Why scarcity is a basic fact of life?
demand will always be greater then supply
What is a scientifc explanation for phenomena?
A phenomenon is the observation of a fact, circumstance, or object. I am right now thinking about the phenomenon of reading your question. In fact, there might be many other phenomena around me.
What does the term phenomenon describe?
a fact, occurrence, or circumstance observed or observable
