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Why do all economists say all resources are scarce?
why are ecomics scarce?
What categories do economists use to classify economic resources?
Economic resources are classified into two categories. These are natural resources (land), and human-made resources which (capital, enterprise and labor.)
When the market does not result in an efficient allocation of scarce resources economists call this?
market failer
Is a structure for allocating scare resources?
An Economic system
Most economists agree that markets are weak and ineffective mechanisms for allocating scarce resources?
false
Why do all economists say all resources are scarce?
why are ecomics scarce?
What categories do economists use to classify economic resources?
Economic resources are classified into two categories. These are natural resources (land), and human-made resources which (capital, enterprise and labor.)
When economists refer to investment they are describing a situation where?
resources are devoted to increasing future output.
When the market does not result in an efficient allocation of scarce resources economists call this?
market failer
Is a structure for allocating scare resources?
An Economic system
Most economists agree that markets are weak and ineffective mechanisms for allocating scarce resources?
false
Economists say all resources are scarce because?
Four factors are needed to produce wealth. 1) Natural Resources. 2) Labor. 3) Management. 4) Capital. From my observations, there is never a lack of management, but often a surplus of poor management, so economists are probably referring to the other three resources.
What social scientist focus on their studies on scarcity resources and profit motives?
Economists focus on studying scarcity of resources and profit motives. They analyze how individuals, businesses, and governments make decisions to allocate resources efficiently in order to maximize profits. economic theories and models help economists understand the incentives that drive human behavior in the face of limited resources.
Is resource scare?
Scarce resources are when there isn't an infinite amount of resources (ex: gasoline, trees, & etc).
Capital as economists use the term refers to what?
the profits that come from hiring and using labor and natural resources
What were the names of the economists who felt that the unfair distribution of resources would lead to the down fall of capitalism?
Communists
Why were countries interested in Africa?
For the natural resources there.
