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Expansion of the productive capacity of an economy would help. However, it is likely scarcity will always exist as resources are limited but wants are infinite. So generally, it is how to allocate the resources most efficiently rather than how to solve scarcity, as scarcity can't be solved e.g. the NHS doesn't have the resources available to give everyone certain helathcare, so they have to choose who gets it, so if person A gets cancer treatment the resources are used up, therefore person B can't be treated as the resources were used for person A, so firms have to decide how to allocate resources.
Resources have to be allocated at their optimum level, if this doesn't occur it is known as market failure.
The government can intervene in the form of taxation (placed on a good to discourage its consumption), subsidies (given to firms to encourage production of a good, which makes it cheaper therefore encouraging consumption), regulation (laws used to prevent consumption of a good) and pollution permits (allocated to firms allowing them to produce a certain amount of pollution, they're tradeable which encourages firms to be greener).
What else can I help you with?
What are the Ways on how to solve scarcity problem?
by finding the way to solve your question..
How do you solve problem solving?
There are various ways to solve a problem. One of the most effective ways of solving a problem is by first of all establishing the root cause of the problem. This will give you varied solutions to the problem.
What is Aspect Diversity?
species solving a common problem in a variety of ways.
A phrase for comprehensive problem solving?
solving the complex problems by finding the easier ways logically or by smart thinking..
What are the two stages of problem solving?
1. Firstly you have to adress the problem. -What is the problem? -How did you encounter the problem? 2. Then you need to figure out how to get round the problem. -Can i reverse the problem? If not can somebody help me? -What are all the possible ways of solving the problem? Hope this helped.
How do you solve the problem?
There are various ways to solve a problem. One of the most effective ways of solving a problem is by first of all establishing the root cause of the problem. This will give you varied solutions to the problem.
What is Systematic approach to problem solving?
Identify the problem look for reasons it won't work look for ways it would work Test viable ways Problem solved
How do you solve probability problem?
There are many different problems and different ways for solving them.
finding effective ways to address multiple concerns is an example of?
Problem solving.
What are the fundamental ways to address?
There are three fundamental ways to address a problem: by solving it, by mitigating its impact, or by accepting and adapting to it. Solving the problem involves finding a solution that completely resolves the issue. Mitigating the impact involves reducing the negative consequences of the problem. Accepting and adapting to the problem involves shifting perspective and finding ways to work around or incorporate the problem into one's life or strategy.
The ability to see a discrepancy and come up with ways to resolve it is a good definition for?
Problem solving.
How do you you solve this problem in two different ways 1018 plus 879?
One has the choice of solving it by pencil or calculator.
