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they remained focus on farming and trading
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When does an object become economic resources?
A living object or an inanimate object becomes a resource when man discovers a use for it in satisfying an economic want. --HOPE IT HELPED! :>
Explain what is meant by the basic economic problem?
Economic problem is the problem regarding allocation of limited resources for the production of alternative goods and services. in other words, economic problem is the 'problem of choice'. Since the resources are scarce and they have alternative uses, there arises the problem of choice regarding the use of these resources. The law of scarcity states that goods are scare because there are not enough resources to produce all goods that people want to consume. Thus, Economic Problem is the 'problem of relative scarcity' and the 'problem of choice' arising therefrom.The basic economic problems of an economy are given below:What to produce and how much to produce?How to produce?For whom to produce?Problem of fuller utilisation of resources.Problem of efficiency in utilisation of resources.Problem of economic growth.
What are economic resources Explain link between scarcity choice and oppurtunity cost?
Economic resources are constraints on the decisions we make when we figure out how to meet our desires. Scarcity implies that we cannot have everything we want and so must trade-off some things we want less for things we desire more. Opportunity costs are the losses we experience in this trade-off. These losses occur because to get what we want, we have to give up something else in return.
What is unlimited want?
Meaning: To want something that has no limit to it. Example: Moneyis unlimited, and many people may want more of it for varius reasons.
What does economic want mean?
The economic want mean distribution, consumption of good services and their management.
Why do countries specialize?
They want to focus on the economic activities best suited to their resources hi are sr
What did both rôme and Carthage want to control?
Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.Both Rome and Carthage wanted the control of the Mediterranean trade routs and the resources of the countries rimming the Mediterranean.
When does an object become economic resources?
A living object or an inanimate object becomes a resource when man discovers a use for it in satisfying an economic want. --HOPE IT HELPED! :>
Economics policy to change a world economy?
Yes. Question is, how do you want to change it? Do you want to ration natural resources? Or do you want to create maximum economic growth? If you want to ration natural resources, you need to control the money supply, you need to have higher marginal taxes, you need to have government regulation, you need to have a system of trade controls to assure natural resources aren't taken by the highest bidder but rather by certain trade partners. If you want to create maximum economic growth, you grow the money supply, you lower marginal taxes, you minimize government regulation, you lift trade controls so natural resources go to the highest bidder (who presumably has the highest value use). But you'll use your natural resources faster. If you want something in the middle, then you pick policies in the middle, and then everyone fights over what you should be doing. The benefit to maximum economic growth is that as resources dwindle in supply, substitutionary resources tend to emerge- solar energy for oil, wireless for copper, skyscrapers for land, for example.
Why would Rome want to capture Carthage?
A powerful Carthage was a threat to Rome's access to the western Mediterranean Sea. Carthage had valuable resources in Spain which Rome wanted access to. Rome also wanted to crush the allies that Carthage had in the Mediterranean Sea area. Her wealth and navy & army could always be a threat to Rome. Thus Rome destroyed Carthage in the Third Punic War.
The origin of economic lies in endless human wants and scarcity of resource?
the original of economics lies in endless human want and scarcity of resources elabolate
Why did communities want railroads built through them?
Probably because trains transported all kinds of goods and with goods came better economic opportunities for communities
Explain what is meant by the basic economic problem?
Economic problem is the problem regarding allocation of limited resources for the production of alternative goods and services. in other words, economic problem is the 'problem of choice'. Since the resources are scarce and they have alternative uses, there arises the problem of choice regarding the use of these resources. The law of scarcity states that goods are scare because there are not enough resources to produce all goods that people want to consume. Thus, Economic Problem is the 'problem of relative scarcity' and the 'problem of choice' arising therefrom.The basic economic problems of an economy are given below:What to produce and how much to produce?How to produce?For whom to produce?Problem of fuller utilisation of resources.Problem of efficiency in utilisation of resources.Problem of economic growth.
What are economic resources Explain link between scarcity choice and oppurtunity cost?
Economic resources are constraints on the decisions we make when we figure out how to meet our desires. Scarcity implies that we cannot have everything we want and so must trade-off some things we want less for things we desire more. Opportunity costs are the losses we experience in this trade-off. These losses occur because to get what we want, we have to give up something else in return.
Economic and non economic want?
An economic want is like America wants gas prices to be lower, a non economic want would be wanting milk prices to be lower.
What is unlimited want?
Meaning: To want something that has no limit to it. Example: Moneyis unlimited, and many people may want more of it for varius reasons.
What does economic want mean?
The economic want mean distribution, consumption of good services and their management.
