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When samuelson and nordhaus write that goods are limited while wants seem limitless they mean what?
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Are all goods scarce?
From an economical term yes. The world can only produce a limited amount of apples, oil, and clean water. We are limited by what we can grow or produce. The above economic definition is generally true. However, there are a few goods which are seemingly limitless for human use/consumption. Nitrogen is ubiquitous (79% of the air we breathe), and thus, essentially limitless, whether breathed in air, used in tires, etc.
What reason opportunity cost arise?
As economic goods are limited, one has to make choices to satisfy his needs. Thus, due to limited economic goods, opportunity costs rise.
All goods and services are scarce because the resources that compose them are scarce?
Resources are limited .
What is tHe ability of countries to sPecialize in the production of certain goods is limited by the existence of what?
trade barriers :)
In Cuba what decides which goods and services are produced?
government mostly[market activities are limited in cuba]
Are all goods scarce?
From an economical term yes. The world can only produce a limited amount of apples, oil, and clean water. We are limited by what we can grow or produce. The above economic definition is generally true. However, there are a few goods which are seemingly limitless for human use/consumption. Nitrogen is ubiquitous (79% of the air we breathe), and thus, essentially limitless, whether breathed in air, used in tires, etc.
Why was the supply of the British goods limited prior to 1814?
American goods were made of superior quality, and the demand for British goods was low.
What are the release dates for Goods - 2008?
Goods - 2008 was released on: USA: 18 June 2008 (limited)
What reason opportunity cost arise?
As economic goods are limited, one has to make choices to satisfy his needs. Thus, due to limited economic goods, opportunity costs rise.
What does it mean when economist says that an area specializes in producing certain products?
They use their resources to produce a limited range of goods.
What can be stuffed?
Foods that can be stuffed include, but are not limited to:poultrymeatseafoodfishsquashpeppersbaked goods
Why did inflation occur in both the North and the South during the Civil War?
The limited supply of goods caused prices to rise.
How were the Phoenicians middlemen?
They moved from trading their own limited goods to the carriage trade - moving other peoples' goods between them and taking a profit from it.
Is it better for a country to specialize in the production of a limited number of goods or to diversify its production?
Yes
All goods and services are scarce because the resources that compose them are scarce?
Resources are limited .
What is tHe ability of countries to sPecialize in the production of certain goods is limited by the existence of what?
trade barriers :)
What are examples of public goods?
If you mean public goods those goods produce by a public company then ,there are various public goods available in the market .like-Petrol,diesel by IOC ; Paper by HPCL( Hindustan Petro Chemical limited)...etc
