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Trade offs are required because wants are unlimited and resources are what?
Wiki User
∙ 11y ago
Scarce
Wiki User
∙ 11y ago
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Why do consumer producer and government have to make choice?
Because these economic actors exist in a condition of scarcity, which means that they must make trade-offs to achieve their desires. Making trade-offs implies economic choices exist.
Why should the US trade heavily with other countries?
The US should trade with other nations to expand its economy and help out not only these nations, but the US itself. The US doesn't have an unlimited amount of resources, so it needs everything it can get.
Why do counties trade with each other?
Countries trade with each other because they don't have some of the natural resources that they want.
Why is trade important to a community?
Trade is important to a community because it allowed people to get resources they didn't have in their own area.They would trade their surplus(an extra amount of food).
Why do countries need to trade?
Countries need to trade because they do not have all of the resources they need to survive. Countries also gain by trading what they have in surplus.
Why does scarcity exits in an economy?
Because we have unlimited wants in a limited world and are therefore required to make choices and trade-offs because, as they say, we can not have our cake and eat it too.
Why was trade important in ancient Egypt for Egyptians?
Trade boosted economies and allowed an exchange of traditions and ideas.
How is trade related to the earth's resources?
Because most people depend on trade to get a least some of the resources they need.
How is trade related to earth's resources?
Because most people depend on trade to get a least some of the resources they need.
Why do trade networks arise?
because resources are valuable
Why do consumer producer and government have to make choice?
Because these economic actors exist in a condition of scarcity, which means that they must make trade-offs to achieve their desires. Making trade-offs implies economic choices exist.
Why did Mesopotamians trade?
because they needed resources that they didn't have in their own civilization
Why did the Mesopotamian trade?
because they needed resources that they didn't have in their own civilization
Did the Mesopotamian trade?
because they needed resources that they didn't have in their own civilization
Why was the of trade important?
The growth of trade was importsnt because this allowed people to make more use of different resources, brought people in contact from different places, and without trade people would have less resources.
Why did the mesopotamian people trade?
because they needed resources that they didn't have in their own civilization
Why should the US trade heavily with other countries?
The US should trade with other nations to expand its economy and help out not only these nations, but the US itself. The US doesn't have an unlimited amount of resources, so it needs everything it can get.
