Ask Question
Social StudiesSocial Studies
30 August, 23:13

Why are scarcity and choice basic to the study of economics?

+4
Answers (2)
  1. 31 August, 00:34
    0
    These two factors define an economy. This is because scarcity shows how much of something is stocked. Meaning economists can know what there is and what there isn't. Choice is pretty self explanatory people want to know what consumers want to buy.
  2. 31 August, 02:07
    0
    These two factors define an economy. This is because scarcity shows how much of something is stocked. Meaning economists can know what there is and what there isn't. Choice is pretty self explanatory people want to know what consumers want to buy.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Why are scarcity and choice basic to the study of economics? ...” in 📙 Social Studies 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
What is the term for an agency's implementation of policy outcomes closer to its own ideal than to the outcome intended by the congress? a. bureaucratic drift b. coalitional drift c. oversight d. abdication?
Answers (2)
Powers not written in the Constitution, but necessary to carry out its Expressed Powers are called a. Enumerated Powers. b. Implied Powers. c. Inherent Powers. d. Oversight Powers.
Answers (2)
Sikhism is a blend of what two religions
Answers (1)
Which of the following statements is true of Confucianism? 1. In Confucian thought, loyalty to one's superiors is regarded as a sacred duty. Confucian ethics raise the costs of doing business in China, Japan, South Korea, and Taiwan. 2.
Answers (1)
Autonomous consumption is: Group of answer choices that portion of total consumption that is dependent upon the level of income. that portion of total consumption that is independent of the level of income.
Answers (1)
New Questions in Social Studies
Axis Powers used the Anti-Comintern Pact to hide their aggressive intentions with a false pledge to stop the spread of communism. the answer is (true)
Answers (1)
Marine organisms at higher trophic levels constrain higher levels of mercury true or false
Answers (1)
Payroll is best defined as A. payment for machines used by a business. B. wages and benefits paid to employees. C. the cost of buildings and tools. D. the price charged by the competition.
Answers (2)
Give to examples of human activities that can affect the earth system
Answers (1)
Who are the early Americas?
Answers (1)
Home » Social Studies » Why are scarcity and choice basic to the study of economics?
Sign Up Forgot Password?