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What is an example of the kinds of choices that a business would have to make because of scarcity?
Scarcity and choice is the basic economic problem. New wants and needs lead to constant scarcity of certain products or services, and this leads consumers and businesses alike to have to make choices. An example is the desire for two different services in a business when resources are limited (say, renovate or reupholster). The choice must be made as to which to do to make the most of available resources.
What is the difference between scarcity and a shortage?
A shortage can be temporary or long-term, but scarcity always exists.
What are the two specific resources create scarcity?
supply and demand
Are scarcity and shortage the same?
no definitely not, a scarcity is when the is a small amount of a non-renewable substance (water, clean air, food); and a shortage is a small amount of something we can have again soon (PS3's, chairs, paint)
Multiplicity of wants and scarcity of means are two foundation stones of economics?
Economic problem in essence is the problem of scarcity of resources in comparison with human wants. In everyday life, we encounter many economic problems, poverty, unemployment, inflation etc, but if we start analyzing them, we will find that every problem has it's roots in the fundamental problem of scarcity of resources. Scarcity forces choices in consumption and production of goods. Scarcity creates conflicts. Scarcity means that not every body is getting everything he wants and there will be losers and winners. Scarcity arises because of two underlying conditions: Physical condition, that is, limited productive resources and a mental condition that is , unlimited wants. Physical limits do not alone-establish scarcity-in an economic sense. It is the human wants which make resources insufficient. Wants are unlimited, people want much more than just necessities. So the bitter fact is economic problem is permanent.
What are two ways that waves are affected by interference?
Constructive and destructive. These are the two extremes.
What are two ways a waves are affected by interference?
water,air and ground
Name two other ways in which hearing can be affected?
it can be affected by loud noises, illnesses, infections, something hitting the ear very hard.
What is an example of the kinds of choices that a business would have to make because of scarcity?
Scarcity and choice is the basic economic problem. New wants and needs lead to constant scarcity of certain products or services, and this leads consumers and businesses alike to have to make choices. An example is the desire for two different services in a business when resources are limited (say, renovate or reupholster). The choice must be made as to which to do to make the most of available resources.
What were two main ways World War 2 affected life in the US on the home front?
camel
What are two ways the french revolution affected Louisiana?
It uses Napoleonic Law and was sold to the United States.
What were the two ways the plague affected Europe?
It killed about 1/3 of the population It caused a massive economic turndown
What is the difference between scarcity and a shortage?
A shortage can be temporary or long-term, but scarcity always exists.
What are the two specific resources create scarcity?
supply and demand
Can we put an end to scarcity?
Theoretically, there are two ways to end scarcity on Earth.Limit human wants.'Create' unlimited resources.The first option is practically impossible. Human wants are virtually unlimited and are thus only controllable by controlling humans and their imaginations in general.The second option can be a realistic way to end worldwide scarcity. Possibilities include developing tools that can create unlimited resources, and exploring new planets/worlds.
Name two ways in which hearing can be affected?
First is when there is another sound interfearence nearby, and other when something is blocking the path of sound.
What the difference between a shortage and scarcity?
These two words can mean the same thing.
