Ask Question
BusinessBusiness
17 February, 14:28

When a society cannot produce all the goods and services people wish to have, it is said that the economy is experiencing

a. inequalities.

b. scarcity.

c. inefficiencies.

d. surpluses.

+4
Answers (1)
  1. 17 February, 16:27
    0
    scarcity

    Explanation:

    Scarcity relates to the difference among available resources and potentially unlimited desires. The concept of scarcity relates to the fact that, even in developed systems of modern technology, there's never sufficient (of anything) to fulfill all possible human desires.

    Scarcity means making a compromise - sacrificing stuff, or making an exchange-off - to get more of the limited resources you want. In the actual world, the state of scarcity needs competitiveness for limited resources, and conflict takes place "when individuals struggle to meet the requirements used to decide who gets everything."
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “When a society cannot produce all the goods and services people wish to have, it is said that the economy is experiencing a. inequalities. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Carla is about to graduate from her business program. she has always been happiest in jobs where she never knew what would be waiting for her when she got to work that day, and she excels at problem solving. she should seek a career that involves:
Answers (1)
A system of exchange that involves exchanging one set of goods for another is
Answers (1)
Broom Corporation transfers assets with an adjusted basis of $300,000 and an FMV of $400,000 to Docker Corporation in exchange for $400,000 of Docker Corporation stock as part of a taxminusfree reorganization.
Answers (2)
Valli Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $700000 and credit sales are $2500000. Management estimates that 1% is the sales percentage to use.
Answers (1)
What is known about maya cities?
Answers (1)
New Questions in Business
Acme Movers is a company that ships goods and cargo to all locations in the United States. The employees understand that the company's primary vision of timeliness, efficiency and low-cost services is important to maintain the competitive edge over
Answers (1)
A cash dividend payment to shareholders during the year should be reported on the statement of cash flows as:a. An increase in cash flows from financing activities b. An increase in cash flows from investing activities c.
Answers (1)
What is the following scenario an example of? Tom often calls 911 from the drive-through lane of a fast food restaurant if his order comes out wrong. A. public choice theory B. utility theory C. moral hazard D. law of diminishing marginal utility
Answers (1)
Arigold Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at the rate of 62% of direct labor cost.
Answers (1)
When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the statement from the bank, which action is it appropriate for the person to take first?
Answers (1)
Home » Business » When a society cannot produce all the goods and services people wish to have, it is said that the economy is experiencing a. inequalities. b. scarcity. c. inefficiencies. d. surpluses.
Sign Up Forgot Password?