All economic questions arise because of SCARCITY OF RESOURCES.
scarcity
Scarcity of resources cause all nations to answer 3 economic questions because people have unlimited wants but limited resources to produce them.
1. Wants 2. Scarcity 3. Choices
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
All economic questions arise because of SCARCITY OF RESOURCES.
scarcity
Scarcity of resources cause all nations to answer 3 economic questions because people have unlimited wants but limited resources to produce them.
Scarcity of resources
Scarcity of resources
1. Wants 2. Scarcity 3. Choices
what are the human wants who will make the needs for humans
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
If you didn't ask questions, a great amount of confusion will arise. It is better to ask than to guess.
Questions arise. No one knows everything. So we need to get answers.
Intelligent agents
These questions are the basic economic questions to which all economies strive to answer. This is because there are a limited resources available and unlimited human wants, this situation is referred to as scarcity. Thus it is because of scarcity that it is very important that we carefully allocate the limited or scarce resources available to us . For if we don't, we'll die out even sooner. Watch "Doomsday."