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∙ 12y ago
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What is the difference between scarcity and a shortage?
A shortage can be temporary or long-term, but scarcity always exists.
Term for primary factor that determines the economic value something has?
scarcity
What term is used to describe the difference between limited resources and wants and needs?
scarcity
What does the therm scarcity mean in economics?
Under the broadest meaning, scarcity would mean that there are limits to our resources on this planet. A resource or a commodity that exists as a limited quantity would be said to be scarce.
Which term is used to describe a situation where most consumers are forced to make a decision based on limited resources?
scarcity
What is the difference between scarcity and a shortage?
A shortage can be temporary or long-term, but scarcity always exists.
How do you use the term scarcity in a sentence?
There is a scarcity of clean drinking water in parts of North America.
What does scarcity mean as stated in There was a scarcity of labor in the 13 colonies?
shortage
How can optimum allocation can solve the problems of scarcity?
um, scarcity isn't the problem, scarcity is the term used to define the finite nature of resources and the limitless wants of humans.
Term for primary factor that determines the economic value something has?
scarcity
What term causes a nation to have to answer the three basic economic questions?
Scarcity of resources
What term is the primary factor that determines how much economic value something has?
scarcity
What term is used to describe the difference between limited resources and wants and needs?
scarcity
What does the therm scarcity mean in economics?
Under the broadest meaning, scarcity would mean that there are limits to our resources on this planet. A resource or a commodity that exists as a limited quantity would be said to be scarce.
What do you call where there is a scarcity of rain and water?
Deserts is the usual term. They are also know as arid areas.
Importance of scarcity?
Do you mean scarcity in civics terms, as in the inability to satisfy all of the wants of people? If so, there is technically no positive part to scarcity. With scarcity, the wants and the needs of people are unable to be fulfilled through supply and demand. So, in other words, there is no positive importance to scarcity. The only good thing that could come from it is learning from our mistakes.
What does asphyxiated mean?
Asphyxiated means death due to scarcity of oxygen.
