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Which component of a market system conveys information about what is relatively scarce and what is relatively abundant?
supply and demand
Why did farmers reject the gold standard?
money was too scarce ap3x
How increasing the money supply affects interest rates?
In general, increasing the money supply will decrease interest rates. Intrest rates reflect the amount paid for the use of money. As the money supply increases, money becomes relatively less scarce and easier to obtain. As with any other good as the supply increases, while demand remains constant, the price will fall. In this case the price of money is the interest rate.
Is economics all about money?
No, it is mainly about the allocation of scarce resources. There are many different branches of this such as finance, development and game theory, but they are all stemmed from the main economic problem of scarce resources.
What are the 6 characteristics of money?
Money has many characteristics but I think the most important one would be common acceptability. The functions of money are common medium of exchange, store of wealth, measure of value/wealth, means of differed payments. Money has many characteristics but I think the most important one would be common acceptability. The functions of money are common medium of exchange, store of wealth, measure of value/wealth, means of differed payments.
Which component of a market system conveys information about what is relatively scarce and what is relatively abundant?
supply and demand
What component of a market system conveys information about what is relatively scarce and what is relatively abundant?
supply and demand
What is relative scarcity?
Relative Scarcity is the fact that something is relatively scarce
What are the attributes of good money?
attributes/characteristics/features of money: -Must be durable -acceptable -portable -divisible -homogeneous -identifiable -retaining value, so has to be scarce
How do you put savings and scarce in a single sentence?
When money is scarce, you may need to use some of your savings.
Money that is not freely and abundantly available is said to be?
Scarce
How do you put savings and scarce in a sentence?
When money is scarce, you may need to use some of your savings.
Can you give a sentence with the word scarce in it?
Here are two sentences for the word 'scarce': "Food in the town was scarce because there was little money and no shops." "John's attendance for morning lessons was scarce because he never got out of bed in time."
Is a musket common?
Not really. At one time they were, but is most areas they were replaced by rifles in the 1840s. Relatively scarce today.
What must a company do when human resources become scarce?
If human resources is scarce within the company, they have the option to hire people or contractor.
Why did farmers reject the gold standard?
money was too scarce ap3x
Is money is scarce resources?
It depends on the resource in question, now doesn't it? If you're working with something made out of sand--either glass or microchips--money's more scarce than resources. I have a whole backyard made out of sand. If I had a whole backyard made out of money...well, I wouldn't be living in THIS house, for one thing! If you make things out of diamond, then the resources are more scarce than money.
