*there are not enough resources to produce everything people want*
Scarcity.
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
Mixed economy
Scarcity exists because our wants and needs are greater than the resources available to satisfy them
work more want less
Scarcity.
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
Mixed economy
Scarcity exists because our wants and needs are greater than the resources available to satisfy them
because of the scarcity
work more want less
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.
Because there unlimited wants but limited resources.
They occur whenever we dont have enough resources to produce all the things we like to have. By : Taylor S Locklear
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.
Start with definition of 'The Economy". Economics is defined as "The Management of the Scarcity of Resources." Prepare for Scarce Resources.
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.