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Author Question: What is scarcity, and why is it a fundamental concept in economics? What will be an ideal ... (Read 39 times)

CBme

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on: Jun 29, 2018
What is scarcity, and why is it a fundamental concept in economics?
 
  What will be an ideal response?

Question 2

Most doctors are employed by the government and most hospitals are owned by the government in
 
  A) Canada. B) Japan.
  C) the United Kingdom. D) the United States.


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mochi09

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Scarcity refers to a situation in which unlimited wants exceed the limited resources available to fulfill those wants. Scarcity is a fundamental concept in economics because economics is the study of the choices people make to attain their goals, given their scarce resources.

Answer to Question 2

C


CBme

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

robbielu01

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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