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What else can I help you with?
In a market economy prices provide information regarding?
Scarcity.
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
What is an example to explain the concept of scarcity?
Mixed economy
Why does scarcity exist?
Scarcity exists because our wants and needs are greater than the resources available to satisfy them
Would you have to make choices if you had unlimited resources?
unlimited resources would mean that scarcity does not exist. And if scarcity does not exist, then of course, there's no opportunity cost. we can buy anything we want with enough income.
In a market economy prices provide information regarding?
Scarcity.
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
What is an example to explain the concept of scarcity?
Mixed economy
Why does scarcity exist?
Scarcity exists because our wants and needs are greater than the resources available to satisfy them
What are the bases of production decisions in subsistence economy?
because of the scarcity
Would you have to make choices if you had unlimited resources?
unlimited resources would mean that scarcity does not exist. And if scarcity does not exist, then of course, there's no opportunity cost. we can buy anything we want with enough income.
What are the ways of reducing scarcity in the economy?
work more want less
Why does scarcity alway exist?
Because there unlimited wants but limited resources.
What is scarcity and why does scarcity always exist?
They occur whenever we dont have enough resources to produce all the things we like to have. By : Taylor S Locklear
What economy doesn't exist anymore?
Well the Roman Empire's economy doesn't exist anymore. The economy of the fabled Atlantis doesn't exist anymore. Any civilization, society, or nation that does not exist anymore (naturally) there economy is also non-existent.
What are the effects of the global economy on the family?
Start with definition of 'The Economy". Economics is defined as "The Management of the Scarcity of Resources." Prepare for Scarce Resources.
How does distribution effect market economy?
Distribution effects market economies because they will have to deal with scarcity, and with scarcity, they cant have as many things. The distribution will allow a widespread of things to occur.
