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What does the therm scarcity mean in economics?
Under the broadest meaning, scarcity would mean that there are limits to our resources on this planet. A resource or a commodity that exists as a limited quantity would be said to be scarce.
Which of the following list would an economist consider to be land?
Natural resources are materials found in nature. So an example could be products that are in or on the land, such as Coal, Water, and Forests.
When is a resource considered scarce?
A resource is said to be scarce when there isn't enough of it to go around. When Daniel begins thinking about all the things he wants to do with his summer vacation, he realizes he only has a limited number of weeks before he has to go back to school.His summer vacation is a scarce resource: there isn't enough of it to meet his demand. Spending two weeks at baseball camp means he would not have enough time to do something else. For example, if he spends his time at baseball camp he won't be able to spend that time at the county fair with his friends. The problem Daniel faces is a problem of scarcity.
A supply-side economist would be in favor of what?
Cutting Taxes
An economist would tell you that prices are?
the result of millions of business and consumer decisions.
What does the therm scarcity mean in economics?
Under the broadest meaning, scarcity would mean that there are limits to our resources on this planet. A resource or a commodity that exists as a limited quantity would be said to be scarce.
Which of the following list would an economist consider to be land?
Natural resources are materials found in nature. So an example could be products that are in or on the land, such as Coal, Water, and Forests.
When is a resource considered scarce?
A resource is said to be scarce when there isn't enough of it to go around. When Daniel begins thinking about all the things he wants to do with his summer vacation, he realizes he only has a limited number of weeks before he has to go back to school.His summer vacation is a scarce resource: there isn't enough of it to meet his demand. Spending two weeks at baseball camp means he would not have enough time to do something else. For example, if he spends his time at baseball camp he won't be able to spend that time at the county fair with his friends. The problem Daniel faces is a problem of scarcity.
Is wind energy scarce or plentiful?
i would say it is plentiful because its a natural resource that can be renewed. It(a windmill plant) is very useful, but can also destroy habitats and kills birds...T-T
When would the appropriate time be to consider a business equity loan?
The most appropriate time to consider a business equity loan would be during periods where cash flows and cash reserves are scarce. By obtaining a business equity loan during this period, would ensure continued capital for the business.
Do they offer a discount on Economist subscriptions if you commit to multiple years?
Yes they do because they can consider it a membership. This would save you money in the long run. The longer the membership is the more benefits one can receive.
A supply-side economist would be in favor of what?
Cutting Taxes
What would have to happen if the geothermal steam was to be considered a renewable resource?
The source of the heat, the hot rocks below the earth, would have to be continuously hot. Although over billions of years the centre of the earth is cooling, this is happening so slowly that we can consider geothermal as a renewable resource.
Who was the economist who predicted that the population would outpace the food supply?
Thomas Malthus was the economist who predicted that the population would outpace the food supply.
Which social scientists studies how these questions would be answered for a society?
an economist
What is an artifact that an economist want to study?
An economist may want to study historical government policies to understand their impact on economic outcomes, such as inflation or unemployment rates. By analyzing these artifacts, economists can gain insights into the effectiveness of different policy interventions on the economy.
What is the opposite of excess?
I would go with "SCARCE"
