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Scarcity is the lack of enough goods or services a community needs or wants. This often causes rogue individuals to exact a price for available needs or wants. However, scarcity does not need to cause unlawful or immoral behavior--that is a choice people make.
- A child charges his friends for a ride on his new bike.
- When New Orleans was hit by a hurricane and no one had water to drink, outsiders came in to sell a small bottle of water for $5 to $10 each.
- Contractors who come in after a natural disaster often try to charge double or triple the cost, because they know people are desperate.
- A teen boy mows neighbor's lawns. But he dislikes an elderly resident that he calls "Old Man Mean Face". The boy tells the man the mowing for a 10 foot by 5 foot lawn (rather small) will cost him $100 dollars. He does this, knowing the man has no money to pay that price. It is a tactic to avoid helping this man. It is discrimination, too.
A child charges friends for a ride on his new bike.
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What exists when a society does not have all the resources that everyone wants?
Economically speaking its scarcity
What is the relationship between state and law?
Distinguish between a public law relationship and a private law relationship.
What is the relationship between a password and a user name?
A password is a private combination of characters associated with a user name and allows access to certain computer resources.
What is the relationship between ethics?
What is the relationship between ethics and WHAT? You need at least two things to have a relationship.
What was the relationship between the brothers?
a relationship between brothers should be sacred and good....
What is the relationship between choices and relationships?
Scarcity is the amount of limited resources when Choice is the amount of something we want /desire.
What is the relationship between economics and scarcity?
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The conflict between unlimited desires and limited resources in government is?
The Answer is Not In Government It Is In Scarcity. Scarcity is the limited resources amd unlimited desires
Can you compare the relationship between scarcity and the need for choices?
They imply each other and is a necessary consequence. When there is scarcity, in which the resources avaible are not enough to satisfy the human wants, people will need to make choices. So, scarcity will inevitably lead to the need for choices, although the scarcity problem will not be resolved even one has made their choice.
What is the relationship between want and resources?
what is the relationship between human wants and resources
What is relationship between want and resources?
what is the relationship between human wants and resources
Scarcity of resources?
A scarcity of resources is sometimes referred to as a limitation of resources or as finite resources. Some resources that may become scarce include coal, oil, and fresh water. A scarcity of resources will make those resources more expensive.
What is scarcity of resources?
resources that are scarce
What term is used to describe the difference between limited resources and wants and needs?
scarcity
How does scarcity affect the factors of production?
Scarcity is the non-abundance of resources. Resources are needed to produce. Thus, the more that is produced, the more resources are being used.
What is the relationship between human resources and human resources management?
the relationship between human resource and material resource
Define what is meant by scarcity when referring to the economic problem?
Scarcity is our limited resources but unlimited wants.The problem of scarcity is that our wants are always beyond what we can produce with our resources.
