Sign In
Ask Question
Business
Lilly Berg
4 November, 06:01
Scarcity can be eliminated if
+2
Answers (
1
)
Jamari Friedman
4 November, 08:09
0
The scarcity is the key problem that the economics are trying to find an answer to and try to mitigate by making the resources more productive.
The scarcity arises because of 2 main factors,
The human wants are Unlimited The resources available to satisfy these wants are Limited
In theory, if we need to "eliminate" scarcity complete we should either Limit our Needs or find an Unlimited source of resources we require.
However, these are not practical solutions.
So because of this, economics try to utilize technology and other factors to harness the full potential of resources and to use them optimally.
Comment
Complaint
Link
Know the Answer?
Answer
Not Sure About the Answer?
Get an answer to your question ✅
“Scarcity can be eliminated if ...”
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
Ted owns a small florist shop. Since his business is booming, his realizes he will soon need one more delivery van. He decides he will purchase a full size van versus a minivan, which he currently owns.
Answers (1)
For business owners to achieve their goals, certain laws guide their business dealings and transactions. True or False
Answers (1)
Childers Service Company provides services to customers totaling $2,000, for which it billed the customers. How would the transaction be recorded
Answers (1)
One of your coworkers frequently complains about problems she's having with a customer. you decide to: a. tell her what you believe she is doing wrong. b. empathize with her and explain that some customers just cannot be happy. c.
Answers (1)
What two features of a bond are the principal determinants of its interest rate? A. Investment percentages and maturity delegations B. Credit quality and duration C. Price and rate D. Equity and valuation
Answers (1)
New Questions in Business
The average student who has completed four years of college has taken more than 2,600 tests. Educational systems contribute to which of the following of the 10 mental locks to creativity?
Answers (1)
If we look at the equation for money demand from Irving Fisher, which of the following statements is true? A. Velocity does not play any role in the equation B. Money demand is not a factor of nominal income C.
Answers (1)
Smash Company has 4 comma 000 machine hours available annually to manufacture badminton racquets. The following information is available for the two different racquets produced by Smash: Pro Unit sales price $ 500 Unit variable costs $ 125 Annual
Answers (1)
When closing a direct request, you should be sure to
Answers (1)
Which payment type is best if you are trying to stick to a budget? ADebit Card BPayday Loan CCash Advance DCredit Card
Answers (1)
Home
»
Business
» Scarcity can be eliminated if
Sign In
Sign Up
Forgot Password?