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In a market economy prices provide information regarding?
Scarcity.
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
What is an example to explain the concept of scarcity?
Mixed economy
Why does scarcity exist in an economy?
*there are not enough resources to produce everything people want*
What are the effects of the global economy on the family?
Start with definition of 'The Economy". Economics is defined as "The Management of the Scarcity of Resources." Prepare for Scarce Resources.
In a market economy prices provide information regarding?
Scarcity.
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
Is oil a limited resource and what are the implications of its scarcity on the global economy and environment?
Yes, oil is a limited resource because it takes millions of years to form. The implications of its scarcity on the global economy include higher prices for energy and transportation, which can lead to inflation and economic instability. On the environment, the scarcity of oil can drive the search for alternative energy sources, reducing greenhouse gas emissions and mitigating climate change.
What is an example to explain the concept of scarcity?
Mixed economy
What are the bases of production decisions in subsistence economy?
because of the scarcity
Why does scarcity exist in an economy?
*there are not enough resources to produce everything people want*
What are the effects of the global economy on the family?
Start with definition of 'The Economy". Economics is defined as "The Management of the Scarcity of Resources." Prepare for Scarce Resources.
What are the Ways on how to solve scarcity problem?
by finding the way to solve your question..
How does distribution effect market economy?
Distribution effects market economies because they will have to deal with scarcity, and with scarcity, they cant have as many things. The distribution will allow a widespread of things to occur.
In a socialist economy how are the basic problems of scarcity and allocation of limited resources addressed?
By production for use or need.
How is labor scarce?
Labor is scare is a situation where an economy lacks people with the proper qualifications to fill in the market place. This is one of the main scarcity problems in the economy.
What is the continent with the Biggest area of economic water scarcity?
Australia is the continent with the biggest area of economic water scarcity, which means it lacks sufficient water resources to meet the demands of its population and economy.
